Assignment 1: Your Business VentureDue Week 2 and worth 50 points You are stepping into the world of becoming an entrepreneur. For this assignment, and the next three (3), pick an industry and a business you would like to own. This business must require the purchase of new or used equipment as an essential part of running the business (e.g., machine tooling, commercial stove top, dry-cleaning equipment, or commercial printing equipment). Write a one (1) page paper in which you: Describe the industry and the type of business you plan to start. Provide specific details, such as the location, type of customers, and closest or main competition. State why this type of business interests you.Indicate why you believe this business could be successful. Provide support for your rationale. Your assignment must follow these formatting requirements:This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Use technology and information resources to research issues in financing entrepreneurships.Write clearly and concisely about financing entrepreneurships using proper writing mechanics.