Individually, you are required to write a 1500-word venturing costing plan using the Business Model Canvas BMC. Assessment Description This individual assessment will allow students to demonstrate their evaluation skills for the financial feasibility of a new venture. The assessment will further evaluate ethical and entrepreneurial risks associated with funding new ventures. Assessment Instructions 1. Choose a new venture that you are interested in starting. It could be a traditional enterprise (forprofit, an NGO (non-profit), or a social enterprise. The venture should be based in Australia. 2. Using the business model canvas, identify the key components of your business and the cost associated with each component. 3. For each component, provide a brief description and the estimated cost, including any one-time costs (such as start-up costs) and ongoing costs (such as operating costs). When estimating costs, be as specific as possible and use actual numbers, not ranges or estimates. 4. Calculate the estimated costs for each component to get a total cost for the new venture. 5. Calculate the approximate revenues you would generate from your business. 6. Finally, provide a summary of the estimated costs and revenues for the new venture and discuss any assumptions or risks that may impact the accuracy of the estimate.