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Funding and Revenue Streams
Funding and Revenue Streams
For the first time funding, our members will fund for our enterprise. Then, we will raise awareness and find sponsors for our business.
Moreover, for the revenue we will got from our business is when we have sold our recycled plastics to companies that uses recycled plastics as their raw materials, for instance the pipe making companies. Furthermore, we will also process the plastic waste and turn into flower vases to be sold, which also generates income and revenue to our business.
The funds and revenue we got will be managed by our treasurer and will be used to purchase any materials or machine for our business essentials.
Transaction-Based Revenue
Transaction-Based Revenue
The revenue we will gain is from sales of goods, in this case the recycled plastics which will be purchased by the companies as their raw materials and plant vases which will be purchased by our customers.
Strategy for Ongoing Financial Sustainability
Strategy for Ongoing Financial Sustainability
Our Business Strategy for our financial will be listed below. These strategies are very important when we are running our business, to avoid financial problem.
Control Our Spending
Control Our Spending
Our Business will control every spending and will only spend on essentials only
Evaluate Expenses
Evaluate Expenses
Our Business will evaluate expenses weekly to avoid unnecessary expenses
Avoid Debt
Avoid Debt
Our Business will pay expenses immediately, instead of purchasing in debt.
Pay Bills Immediately
Pay Bills Immediately
Our Business will pay bills monthly, for instance water and electricity bills
Improving Net Worth
Improving Net Worth
To improve Net Worth, we will increase our savings and increase incomes.
Save More, Spend Less
Save More, Spend Less
Our Business will save more and spend essentially along with our sustainable goals.
References
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British Plastics Foundation (BPF) (c. 2022) Plastic Recycling, accessed 28 January 2022. https://www.bpf.co.uk/sustainability/plastics_recycling.aspx
DAWE (Department of Agriculture, Water and the Environment) (2021) Recycling - Taking responsibility for our plastic, Department of Agriculture, Water and the Environment, Australian Government, accessed 30 January 2022. https://www.awe.gov.au/environment/protection/waste/plastics-and-packaging/national-plastics-plan/recycling#turbocharge-australias-recycling-capacity
Funding Options (n.d) You know your business, we know business finance, accessed 3 February 2022. https://www.fundingoptions.com/
Goodwin, M. (2020) Spend Less and Save More by Making Frugal Goals This Year, accessed 4 February. https://www.frugalandthriving.com.au/spend-less-and-save-more/
Higgins J and Esselman R (2010) Ecoregional Assessment Toolbox, Conservation Gateway, accessed 27 January 2022. https://www.conservationgateway.org/Files/Pages/ecoregional-assessment-to.aspx
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Lumen Learning (n.d.) Overview of Key Elements of the Business, accessed 27 January 2022.
Morris, G. (2021) How to cut your expenses, accessed 4 February 2022
https://www.incharge.org/financial-literacy/budgeting-saving/how-to-cut-your-expenses/
NYLAG (2021) Monthly Expenses, accessed 4 February 2022. https://nylag.org/three-easy-and-totally-doable-ways-to-track-expenses/
Sharrock S and Jackson P W (2016) Plant Conservation and the Sustainable Development Goals, Botanic Gardens Conservational International (BGCI), accessed 27 January 2022. https://www.bgci.org/resources/bgci-tools-and-resources/plant-conservation-and-the-sustainable-development-goals/
Sustainability Victoria (2022) Reduce packaging, accessed 27 January 2022. https://www.sustainability.vic.gov.au/recycling-and-reducing-waste/at-home/avoid-waste/shop-sustainably/reduce-packaging
123RF. (2021) Net Worth Stock Photos And Images, accessed 4 February
https://www.123rf.com/stock-photo/net_worth.html
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