Adriano’s Dance School

Adriano now feels that he is almost ready to start setting up his dance teaching business, however, there is only one more issue he is concerned about. Adriano will be investing a significant amount of his time, efforts and money into opening the business and he is worried whether his business will perform according to his expectations and be a viable venture or not.

Adriano is almost ready to start setting up his dance teaching business, however, there is still one more issue he is concerned about. Adriano will be investing a significant amount of time, effort and money into opening the business. He is worried that the business might not perform to his expectations and he knows that there are many risks involved with starting your own business. He is also uncertain if he has sufficient funds to start the business.

1. What do you think Adriano should do to monitor and evaluate the performance of his business when it begins operating?

2. What can Adriano do to assess the financial viability of his business?

3. Adriano is considering discussing his business idea with a professional advisor. What do you think are the most critical financial issues that he should find out more about?

4. What are Adriano's short and long term objectives?

5. What sources of finance are available to Adriano?

6. Outline the internal controls Adriano will need to have in place to meet possible emergencies.