BUS 521 Week 2 Discussion

“Basic Business Research and Planning” Please respond to the following:

• Describe three (3) critical areas of research an entrepreneur should examine prior to investing in their new venture. Next, explain how this research will assist the entrepreneur in developing their business plan. Be sure to include information from your textbook to justify your position.
• Discuss three (3) sources of business funding an entrepreneur could utilize to finance the startup costs of a new business. For each source of funding present two (2) or three (3) benefits and two (2) or three (3) risks. Next, elaborate on which option you would prefer for your business model and why.