Wk #4 Research Strategy

In: Business and Management

Submitted By jothiede
Words 1151
Pages 5
Research Strategy
Jo Ann Thiede
University of Phoenix
Foundations for General Education and Professional Success – GEN/200

Kelly Sanderson

March 2, 2009

Research Strategy The biggest problem which has been encountered with the planning of a start-up business is the financial requirements. Research has determined it will likely result in attempting to obtain a grant or a small business loan. While a number of the websites visited promise an immediate guarantee of a grant, how can a potential new business owner know for sure what is written in the fine print? Never having applied for any type of grant creates a sense of apprehension and uncertainty with regard to the process. Gathering information from the Small Business Administration is the second option to explore and consider for the purpose of applying for a $20,000 small business loan (sba.gov, 2009).
Description of the problem The original plan was to start the company, conduct business from the personal residence, and limit the service exclusively to the residents of Elbert County, Colorado. However, preliminary demographic research indicated a significantly lower percentage of elderly residents than first expected; therefore, leading to the need of expanding service to a supplementary county. Opening up service to a second county will permit the inclusion of additional physically and mentally disabled adults and children. The purpose of the business will be to service the elderly, physically, and mentally disabled residents focusing on personal care and life skills. Elderly residents will benefit from the services provided by allowing personal care providers to enter their homes and help them with non-medical assistance such as home upkeep, personal everyday tasks, and shopping for home supplies. The physically and mentally disabled clients will benefit from education in life…...

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