Title: Assess personal financial status.
Course: Entrepreneurship, Advanced (12053-II) > Section: Projecting Financial Requirements

Assessment should include the components of the expenses for

- regular monthly payments
- household expenses
- personal expenses.

Personal financial status also includes the knowledge of credit and financial history.

Process/Skill Questions:

- What resources can entrepreneurs use to get accurate information about their personal credit history?
- What indicators do lender institutions use to determine creditworthiness?
- What is the risk involved in using a credit card with an increasing balance to pay bills?
- What strategies can be used to survive the first few years in business, when income may be low?
- What is bootstrapping? How can it help entrepreneurs in starting their own businesses?
- What are the advantages of using one's own money to finance one's business?
- How can a small business benefit from having a CPA monitor its financial records?