Starting a Business 5: Managing Finances

Find out how forecasting and managing your finances can lead to a profitable and sustainable business.

About the course

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’.

Course topics

  • The importance of financial information
  • An introduction to key financial information: sales revenue forecast; profit and loss forecast; and cash flow forecast
  • Analysing and interpreting financial performance
  • How to increase profitability
  • Marketing a product in terms of price and number of sales
  • Key financial forecasts: determining the viability of a business opportunity
  • The business plan: business finances

Duration: 2 weeks  |   Weekly study: 2 hours

Course outcomes

By the end of the course, you'll be able to:

  • Discuss why forecasting and planning are key skills within any successful business.
  • Evaluate the entrepreneur’s business challenge: How can Hannah make her business more profitable?
  • Assess costs, prices, gross profit and cash flow forecasts.
  • Discuss sales revenue forecast, net profit and the purpose of a cash flow forecast.
  • Identify business finances in a business plan.

Course developed by

As one of the UK’s largest research-based universities, the University of Leeds is a member of the prestigious Russell Group and a centre of excellence for teaching.

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