Essay on Personal Finance Plan For A Business

Essay on Personal Finance Plan For A Business

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Furthermore, with a better career opportunity and salary, I would become better able to receive start up loans to start my own business. After a decade or two of being a CPA, who specializes in personal finance planning, I plan to open my own business. In order to open a business, I would need a startup loan; I would use a part of the savings I acquired over my career but it would be easier to have a supplement to that money. Because according to the Small Business Administration, a business can require $30,000 or more to start up, and even if that is in my savings that is a large amount to risk(SBA). And having a stable job, with an above average salary appeals to banks when applying for loans, because banks look for reliable borrowers who have assets and credibility involving paying. Also with a career specialization in personal financial planning, I show my credit worthiness of being able to handle a business that is focused about personal finance crises. Furthermore, being a CPA demonstrates my knowledge of business and keeping books thusly presenting me as a viable candidate for a startup loan. Therefore, I plan to borrow a loan for half the amount I need to start up my business.
A few people will say just wait till one can cover the entire cost of the startup by him or herself that way the only risk is the money her or she has invested if the business runs south., because defaulting on a loan gives the loan sharks the ability to possess assets if one cannot pay them back in a timely manner. However, even if I start saving as soon as I start a decent job or a career after college, I will have more reasons and causes for saving my money other than for opening a business on the side. For example, I would start saving for retir...

... middle of paper ... and how to actually run the business, giving it a more personal feel that consumers these days are looking for. Additionally, the business plans to go international later on in the plan and with a CPA’s knowledge of international finance, and network benefits the business by having a foot in the door of foreign businesses and places.
Once the business is international the goal is to help the world. But how is helping families financially helping the world? Coming from a family who has had a number of financial crises, it feels like the world is caving down when one does not know if they will have a home next week, or enough money for groceries. Therefore, being able to help families out of financial crises will be helping there world. Furthermore, the world is riddled with poverty and sad generalization the rich are getting richer while the poor are getting poorer

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