Thinking about money

In order to ensure your business makes a profit from the start it’s essential to plan the financial side of things. Although this may sound daunting, in fact the maths itself is pretty simple and this module will lead you through the process step-by-step.

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Work out how to set up your finances, taking control of your money from the start. This module will help you work out your costs, decide how you’ll fund your business and make accurate profit estimates. It will also help prepare you to deal with important paperwork.

Although running your own business can be rewarding for lots of reasons, it is important that you remember the primary reason any business exists – to make money. To really be in control of your working life as an entrepreneur you must be making a profit, however small.

Profit will be used to reinvest in your business, in order to grow and expand into new areas. However, it will most likely also be the money you live on. Without profit you don’t have a business – you have a hobby.

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