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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