Starting A Business Essay Example | Topics and Well Written Essays - 750 words

Starting A Business - set about ExampleAnother source I can take advantage of is to borrow money from friends or relatives, who score more than sufficient cash and willing to lend.1 excursion from these sources, I can also borrow from the bank and utilize available credit lines that specifically meet my needs as a start-up entrepreneur. In addition to banks, there ar other lending facilities such as investment companies and private lenders from where I can borrow money.2 Should money from these sources fall short, I can also use my credit curriculumk as an alternative.However, it should be noted that resorting to these borrowing institutions or facilities for capital requirement entails the payment of interest. This means that on top of the principal amount, I will have to pay the interest or cost of borrowing. also-ran to service arising obligations from my borrowings in these institutions may result to piling interest, which can surge meteorically, thus, doubling the debt a mount to be repaid. Such would have adverse effects not only on the financial position of the keep company but also the reputation in the market.I can also present my business plan to venture capitalists, who would be willing to share the burden of the risk by providing capital for the proposed business. In considering this option, I would still have to think about the terms and conditions of the capital provision of the venture capitalist. This is because such may result in me, the business owner, having less control over the operations of the company. Some venture capitalists elect to have direct participation in running the business.3In addition, I can seek funding from organizations that extend grants to deserving entrepreneurs. For example, I can apply for funding assistance from American Express half-size Business Assistance that supports small businesses. There are also other government agencies that can be excellent sources of grants and loans for starting a business.4Go vernment Agencies and Regulations to Deal withBefore I can start manufacturing and interchange the Chunky Corn products, I would have to apply for licenses in the Food & do drugs Administration (FDA), which provides military volunteer pre-marketing consultations that would help examine if the biotechnology food, in this case the feed products, meet the regulatory standards for safety.5In relations with the FDA, I would have to ensure that the products I would be offering to the public conform to the Federal Food, Drug and Cosmetic Act. Under this regulation, the manufacturer, Chunky Corn, Inc., is legally responsible to produce these safe products under sanitary conditions. Furthermore, since my products are made from genetically engineered corns, my application may have to undergo special review by the FDA to discovery out if levels of toxicants in my food products are substantially higher than present in other edible varieties of same corn species.6In terms of labeling, the company should adhere to labeling standards such that labels accurately describe the corn products by its common name and reveal important facts associated with the claims made. The labels should also be truthful and not misleading.7 Aside from licenses on the products, I would also have to deal with other government agencies for other aspects of the business. For example, I would have to deal with the local office of the Secretary of State for