Starting a Business 5: Managing Finances
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Find out how forecasting and managing your finances can lead to a profitable and sustainable business. By the end of the course, you‘ll be able to... Discuss why forecasting and planning are key skills within any successful business. Discuss sales revenue forecast, net profit and the purpose of a cash flow forecast. Evaluate the entrepreneur’s business challenge: How can Hannah make her business more profitable? Identify business finances in a business plan. Assess costs, prices, gross profit and cash flow forecasts. The management of finances is crucial to a successful business; financial information provides the evidence to support your decisions about a business and helps to justify those decisions when you present them to other people. Whether you have an idea for a future venture or you already have a side-line business whilst studying, this course will introduce you to key financial information and gives you a chance to discuss your ideas with others. This course is the fifth in a series of six about ‘starting a business’.