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Operating Plan Return to chapter video Go to Business Plan Question |
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To ensure a smooth and effective business operations startup, it is important to have the right equipment in place at the outset. This includes not only production equipment but administration and communication equipment. After determining the equipment you require, you will also need to finance the costs.
The equipment you require for your business to become fully operational is dependant on your particular situation.
Some small business owners will find that they require very little in terms of equipment or use equipment that need only be purchased once at the initial start up stage. Other organisations will need more substantial equipment, such as in a production company, with higher initial costs as well as ongoing maintenance and upgrading expenses.
There are a number of methods that you can use to finance the initial acquisition of equipment. Depending on your circumstances, you may seek finance from friends or relatives, your own personal savings or loans from financial institutions. It may also be possible to secure credit from your suppliers or lease equipment on a periodic basis.
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