Creating a Business Often Involves Convincing Suppliers to Participate in Your

question 32

Essay

Creating a business often involves convincing suppliers to participate in your new offering. While Rent the Runway had proven customer interesting, some designers had initial concerns about Jenn Hyman and Jenny Fleiss's firm. Briefly describe supplier concern.

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Definitions:

Provisions

Liabilities of uncertain timing or amount, set aside in a company’s financial statements to cover anticipated losses or obligations.

Events

Occurrences or actions that can have an impact on the operational, financial, or legal standing of an organization.

Capital Balances

The amount of funds contributed by owners or the net assets available in a business after liabilities have been subtracted.

Net Income

The amount of earnings after subtracting all costs and expenses from revenue, including taxes and other deductions. Representing a company's profit over a specified period.