Part 5 of Simple Steps for Starting Your Business: Startup Costs, Cash Flow, and Your Financial Plan
Financial planning is essential to a startup business because it helps you:
- Figure out how much money you will need to start and run your business.
- Create a plan to guide future business decisions and monitor results.
- Communicate with stakeholders (investors, lenders, employees, etc.) about the business’s finances.
- Better understand the financial risks and rewards of entrepreneurship.
In this workshop, you will develop the financial aspects of your business plan.
This week you will:
Understand and calculate your start-up costs
Identify the elements of your cash flow, and how to manage it
Develop your financial plan