Students are supposed to read the Case 2- Able Planet from the textbook, page number:812

“How can a small company find capital to finance an innovative new product?”

Textbook: (Scarborough, N.M. & Cornwall, J. (2012). Effective small business management: An Entrepreneurial approach (10th ed.). Upper Saddle River, NJ: Prentice Hall.

Based on your understanding of the case and concepts, answer the following question in 200-350 words each.

Assignment Questions:

1. Experts say that entrepreneurs who need between $100,000 and $3 million often face the greatest obstacles when raising capital for their businesses. Why? (1.5 marks)

2. How should Kevin Semcken raise the $1.5 million in capital that Able Planet needs? Be sure to consider sources of both debt and equity financing. (1.5 marks)

3. Write a short memo to Kevin Semcken explaining what he should do before he approaches potential lenders and investors to maximize his chances of getting the capital that Able Planet needs. (2 marks)

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