URBAN OUTFITTERS CONTINUING CASE STUDT PART 2
INSTRUOTOR DAVID KIMBLE
January 29, 2011
I identify at least three challenges when setting up a business. Explain why they are challenges.
When setting up a new business, the prospective business owner can come across a great
Deal of challenges. The first challenges that most people will come to is finding the start up
Capital to get your new business off the ground. Unless you have a decent amount of money saved you will probably have to find ways to acquire extra funds to get your business rolling. Money for inventory, patrol, materials, and many other things will have to be available to help you start a successful business. Because most people do not have this kind of disposable income aquiring funding is one of the largest challenges for the potential owner. Another challenges which goes hand in hand with funding is putting together a good business plan to help you aquire financial institution of your choosing. A good business plan takes a great deal of time and planning and must be carefully thought out. Furthermore it must be presented in a manner that is easy to understand and tells your company story in a manner that conveys solid planning, good fiscal responsibility and a promising business outlook. The business plan can be an intimidating obstacle
To an individual who has no limited experience in formulation one. This is a task that should always have professional help and should take time to develop. One final challenges I will touch on is a new business owner’s ability to work extended hours to make sure their start up is successful. A new business is not going to be a 9 to 5 job with 1 hour...