Project For this assessment, you are to create report for your Bed and Breakfast business (+1500 words). Your report should be submitted to ACCIT Moodle. You want to start a bed and breakfast establishment using a property you own on Kangaroo Island. You estimate that it will cost approximately $80,000to establish and operate the business for the first year. You forecast that you will generate $40,000 in income during that time. It was determined that you will need to obtain funds from an external source. The report needs to answer the following questions in detail: Who will you approach to provide thefunds? What are the advantages and disadvantages of the chosen method? What are the costs of obtaining thistypeof financing? Prepare a report which will be provided to the person or an organisation you intend to approach in search of funds. The report must include the following: . Provide details of your own personal financial situation and list any commitments which you have incurred which could affect your ability to invest money or time in your business venture Develop a cashflow budget for the first year of business operation (Please use the template provided and submit the excel spreadsheet together with your report to ACCIT Moodle) Estimate the personal withdrawals you will need to take from the business Give information about the likely type of business and operating costs for the business Provide information about strategies you will adopt to meet your financial obligations in the future Give details of the people or organisations you might approach when seeking advice