When doing a budget for a business plan, it helps to start by brainstorming:
A) Start-up costs
B) Business loan proposals
C) Marketing plans
D) Grant proposals

Question

Quizplus · Accepted Answer

When establishing a new program or business, an important consideration is how initial funds, also known as start-up costs, will be acquired (Braveman, 2016; Timmreck, 2003). Depending on the program, start-up costs will vary. It is important to identify what funds are needed to initiate the program and whether these costs will be one-time or ongoing. Costs can comprise overhead to initiate the program, including rental space, phone and Internet services, advertising, new equipment, and supplies. If the program plans on making a profit, then a business loan is an appropriate option to consider to cover start-up costs. On the other hand, if the program plans on simply generating enough funds to cover program costs, then other funding sources, such as a grant or donations, may be more appropriate. The type of business also plays a role here. For-profit businesses are more appropriate for small business loans, whereas non-profit organizations are eligible for other funding streams like fund-raising, grants, donations, and sponsorships.

When Doing a Budget for a Business Plan, It Helps