SEC-S20W2 | Business Ideas | Dev's Teaching Team

We are pleased to have completed the first week of SEC Season-20, and now we enter into the second week with new questions and a few tips.

  
We come to the topic straight away and share a short description of what we expect from the participants. This week we are expecting specific answers from the users in business or willing to enter a business to stick to the point and avoid generic answers. Please keep your answers based on your own experiences or what you expect to do if you find yourself in a situation in question.

Source edited

Now we know that you're in business or willing to start one soon and you are giving it your all to make it a success. However, a business is not just a source of income but you should have a plan for your financial planning to run it successfully.

Our topic of the week is "Capital Management."

As you know, the requirement of any business, whether your need of capital is short-term or long-term, depends upon your business plan.

Apart from this, you need running capital, also known as current assets. In your businesses, you have to adjust agents, taxation, registrations, patents, advertisements, etc. are also such expenses that you have to add to the cost of your product, so that is also a fixed expense that you have to take into account at the time of starting your business.

Please explain how you plan to arrange your initial investment.

You need funds according to your business, which includes research, advertisement, staff expenses, dispatch, etc.

As we understand, we have several experienced enraptures among Steemians, so this week the tips and questions will be a little more professional. You have to provide us with the reasons based on our questions in 200-250 words each.

It all depends on the size of your business and how you arrange your capital, so let's start with:

Q1. Please tell us about your initial investment value in terms of Steem as well as in US$, and how you manage it.

The initial investment is what a businessman/woman allocates at the time of starting their business. This amount is their contribution towards the business or project. This amount is needed to cover the cost of a shop, building, raw materials, finished goods or equipment, or whatever their business requires as initial inventory, including legal, licensing, commissions, etc.

Q2. A profit and loss statement is commonly known as a statement that shows details of your business's revenue and expenses over a period that we calculate on a monthly, quarterly, or annual basis. How do you determine whether your business made a profit or loss during a stipulated period?

We are interested to know:

A. Are you earning profit or incurring losses?
B. What are your plans to make your business a more successful one?
C. Are you reinvesting your profits or using them for your personal use?
D. What are your expenses for your staff and establishment, if any?

Q3. Loans and working capital

Did you take any loans or working capital for your business from any financial institute?

A. If you took any loan from any financial institute, how do you repay your loan? What is the interest rate?
B. How frequently do you pay the loan installment?
C. Have you ever faltered in repayment of an installment?
D. Working capital loan covers your business's short-term operational needs. A working capital loan is that you take from an individual or financial institute to run your business for the short term.
E. Most financial institutes provide a fixed amount that you can draw when you need it and return to your account. The interest is calculated for the period you use this amount on a daily basis. Do you have any such account or intend to have one?

Q4. Colleterial securities and your understanding

We know that all of us are not wealthy enough to start a business with our capital, so we have to arrange through different methods. Collateral security is one of the methods to obtain a loan for starting a business by most businessmen.

Collateral security is a guarantee by a business owner or a partner of the business to repay the loan. Most financial institutes provide business loans against collateral security at a fixed interest rate. In most cases, this is your home, your business, or your fixed assets. Did you take any collateral loans for your business or intend to do so? If not, why not?

A. Do you have any plans to seek a loan from a financial institute against your property?
B. If yes, what are the terms and conditions for such loans in your country?
C. Do you intend to seek a loan for establishing a business or do you need it as running capital?

Contest Rules

1. Posts must be published on your blog (not in any community), and you should submit your post link in the comment section under this post, and don't forget to resteem this post.

2. The title must be: SEC-S20W2 | My Business Ideas |Capital Management

3. The post must contain the required number of words as specified in the topics.

4. Your post must be free from plagiarism, artificial intelligence (AI), or plagiarism.

5. Use the main hashtag #dtt-sc20w2 among the first 4 tags # steemexclusive # yourcountryname # club.

6. If using the hashtag #burnsteem25 make sure you give 25% of the reward to @null

7. Please mention your club status if any.

8. Invite 3 friends to participate in this contest.

9 Your post must be #steemexclusive.

1. Please interact with other users.

2. Please use images that you own or from free image-sharing websites like Pixabay, Unsplash, Pexels, etc., and mention their source.

This contest starts on Monday, September 16th, 2024, and ends on September 22nd, 2024 UTC Time Zone.

Prizes

We shall select five users every week that might get a vote from SC01/SC02. Other Steem Curators might upvote based on the quality of your posts.

Our team will pay 10 SP each to all five selected posts every week = 50 SP and recommend winning posts to SC01/02.

We will check all posts thoroughly and rank them based on their quality.

Please note-

We will choose the winners based on the quality of the post. A quality post is all about covering all points and staying on point within stipulated limits of words and proper context.

Our queries in the moderation section and your clarification in the comment section will enhance your chances of reaching the top 5 slots.

Please use proper markdown. Your involvement with other users in the contest will be a positive factor but not decisive. Make sure your comments add value and are not a repeat of what the poster has already said in their posts.

Special Note:

Write your post on your blog by selecting "My Profile" on your dashboard and clicking 'postmark' near your profile picture. Posts in other communities will not count as eligible entries.

The post-checking report

Hello @

Thanks for sharing your post in "Dev's Teaching Team"

Here are the feedback and evaluation results:

Point 1. /2

Point2. /2

Point3. /2

Point4. /2

Quality /2

Score /10

AI Free ☑️

Plagiarism free ☑️

Checked by <@>

Please quote

@dove11
@aviral123