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CSC 307 - Professional Practices: Assignment 4

The document discusses sources of funding and potential areas for capital needs for a startup software company establishing an ERP system in Pakistan. It identifies five sources of funding: bank loans, crowdfunding, business incubators, government grants and subsidies, and friends and family investments. It also outlines five potential areas needing capital: marketing and advertising, employee payroll, resources like equipment and supplies, utility expenses, and official business travel costs. The startup will require at least 10 million Pakistani rupees in funding.

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Muhammad Haris Awan
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58 views2 pages

CSC 307 - Professional Practices: Assignment 4

The document discusses sources of funding and potential areas for capital needs for a startup software company establishing an ERP system in Pakistan. It identifies five sources of funding: bank loans, crowdfunding, business incubators, government grants and subsidies, and friends and family investments. It also outlines five potential areas needing capital: marketing and advertising, employee payroll, resources like equipment and supplies, utility expenses, and official business travel costs. The startup will require at least 10 million Pakistani rupees in funding.

Uploaded by

Muhammad Haris Awan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CSC 307 - Professional Practices

Assignment 4
Muhammad Haris Awan (01-134171-095)
BSCS 7B

Question 1: Suppose you are qualified software professional and you are planning for a
start-up business of establishing Software Company that will develop commercial ERP
systems. This setup will initially need at least 10 Million Pakistani Rs. However, you do not
have this much amount in hand.
• You are required to identify at least five sources of funding for this start-up business
with 2 to 3-line details of each source.

Following are the sources from where we can fund our start up business.
Bank Loans
Banking foundations offer monetary help on credits to individuals who approach them with a
solid field-tested strategy. The strategic plan must be all around intended to pass on the
arrangement, benefit gauge and foreseen time of development.
Crowdfunding
There are different undertakings that crowdfunded, these thoughts are pitched on Kickstarter
and Indiegogo, it is a well-known a site to test out your thoughts whether it is a device, item or
even a social reason, and present its advantages. When it is pitched, intrigued speculators will
bolster for the thought or cause.
Business Incubators
Business hatcheries are associations that guides either a beginning up or beginning period
organizations by giving offices, for example, workspace, tutoring, preparing, by making
contacts, and seed capital subsidizing. They are either financed by global associations, colleges,
or government. For instance, Comsat’s incubation.
Government Grants and Subsidies
Government offers startup money to source support your business. They are required to
present a field-tested strategy with a thought that can be acknowledged by the award board of
trustees. When it has been breaking down and passed, assets will be given to fire up the
business.
Friends and Family
You can take money from either your family, companions or your informal community who are
near you and the fundamental purpose for putting away this cash is on the grounds that they
have confidence in your thought or in you as an individual/business visionary.
You also have to identify at least five potential areas/ tasks for which this huge amount of
capital is needed.

Following are the potential areas where this capital is needed:


Notice and Marketing
As we get that if a business needs to create its capital, it must do advertising whether to sell
their item or finding new speculators for their business. Capital is designated for this reason
heretofore because this is one region from where capital is expanded.
Pay of Employees
From gatekeeper to CEO, another new company must compensation pay rates to every single
one of their staff, with the goal that the representatives are urged to work and improve new
thoughts.
Resources
When beginning another business capital is required to purchase workstations and furniture for
the workplace. A portion of the capital is spent on purchasing number of programming and
stationaries that are required in the association to work.
Utility Expenses
A part of capital is spent on utility costs which are involved the lease of the territory where
office is found its electrical, gas, web broadband, and landline telephone bill.
Official Traveling
For the official gatherings with customers or financial specialists the staff individuals must
travel, these costs are suited authoritatively since the organization profits by this not the
worker.

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