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Good record keeping — a constant and detailed knowledge of expense, income, and profit or loss — is the first step toward profitable management of your business.
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SCORE San Luis Obispo
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SCORE San Luis Obispo
Financing is one of the most important aspects of starting a new business. Your ability to provide and raise adequate capital will determine the fate of the business venture. Insufficient financing may cause the business to fail. Excess borrowing with easy credit at high-interest rates can also put the business at risk. So, before you start, you must take a careful look at the type and amount of capital you will need. Then, you must decide how you are going to finance the capital needs of the business. Last, but not least, you have to determine a source for the capital at a favorable cost.
In any new business start-up, we need to begin by projecting an income. To do this we need to make some assumptions about our business and its projected revenue, to make a more informed decision on whether our business idea will be profitable.
Learn about 5 Money Savvy Moves That Can Help Improve Your Company Cash Flow
Good record keeping — a constant and detailed knowledge of expense, income, and profit or loss — is the first step toward the profitable management of your business. Download Guide to read more.
Financing is one of the most important aspects of starting a new business. Your ability to provide and raise adequate capital will determine the fate of the business venture. Insufficient financing may cause the business to fail. Excess borrowing with easy credit at high interest rates can also put the business at risk.
Use the templates below, then meet with a SCORE mentor for expert business planning advice.
This section provides descriptions and contact information for the most-often-requested resources during our mentoring sessions and workshops.
