The aim of this course is to provide delegates with the essential knowledge and skills to enable them to develop a robust financial model to fit with the aims of their business.
Anyone setting up a business must plan to both finance the startup and manage all revenue and expenditure on an ongoing basis.
In addition, a business must maintain satisfactory records of all financial transactions.
Cash flow is a central feature of this course.
The importance of cash flow is often underestimated, yet many businesses fail simply because of cash-flow problems.
This course covers the fundamental financial knowledge and skills which an entrepreneur needs before starting a business.
Firstly, delegates will learn essential financial terminology so that they can use business planning software and interpret the results. They will then go on to learn about different sources of finance and select the most appropriate for their business plan.
They will learn how changes to pricing, sales levels or costs impact upon the financial performance of a microbusiness.
Outcome of session
Outcomes will include:
Be able to use terminology used for financial planning
Profit calculations: gross profit, net profit; simple profit and loss statements
Cash inflows: capital, sales, loans, timing of inflows