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Presented by Roger Pierce NewcomerStartup.com 1
Youre starting a business! 3 Million Canadian Entrepreneurs Most respected occupation Youll need some money: Poor cash flow kills startups 2
Startup Budget: Capital (equipment, renovations, website, vehicles) Operating (rent, wages, marketing, telephone, supplies) x 6 months 3
Write a Business Plan Know your number (Startup Budget) Decide how you will repay Loan? Investment? Know your options Be prepared for rejection 4
Your money! Savings Part-time job(s) Loans, credit (be careful) Consult financial advisor 5
Family & Friends Loan or investment? Dont take too much 6
Financial Institutions Need a Business Plan Personal Guarantee Invest some of your $ Shop around 7
Government Programs Grants & Contributions (e.g. Book Fund) Loan guarantees (CSBF Program) Wage subsidies Tax refunds and credits (SRED; 35%) www.canadabusiness.ca 8
Investors Angel investors are other businesspeople Venture capitalists are professional investors Business plan, great pitch essential 9
Customers & Suppliers Get money early from customers Deposits, retainers, full payment Pay suppliers later Credit account, generous terms, inventory upfront 10
Good Paper makes Good Friends Shop around Research, referrals Combine sources of money Persevere 11
Bootstrap Underestimate revenue, over-estimate expenses Start slowly Start small 12
Free advice at NewcomerStartup.com 13
Cover Life Cycle of Financing 8 South Michigan Suite 400 Chicago, IL p (312) f (312) Linda.
Use with Business Accounting and Finance Second Edition by Catherine Gowthorpe ISBN © 2005 Thomson Learning.
How much money should I have?. Start-Up Expenses Expenses entrepreneurs have when starting their business Expenses entrepreneurs have when starting their.
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Financial Management Decisions n Investment: What assets to own? n Financing: How to pay for those assets? n Dividend: What to do with Net Income?
Presented by Roger Pierce NewcomerStartup.com 1. Supportive government Entrepreneurship culture Affordable Access to US market Diverse population.
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Please log into Moodle and complete today’s Bell Ringer When you finish, please… › UPLOAD the “Financial Analysis Notes #1” that we finished yesterday.
Stage 10 Arranging Financing. Sources of Financing How will you finance your business? Personal savings Credit from suppliers Loans and mortgages from.
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Forecasting of cash flows. On completing this chapter, you will be able to: Understand the importance of cash to business. Explain the difference.
Lim Sei cK. Often the hardest part of starting a business is raising the money to get going. The entrepreneur might have a great idea and clear.
Dr Robert A. Phillips Manchester Science Enterprise Centre Financial Planning: Making Sense of the Numbers.
Start up money Capital“money invested by the owners” - it can be a substantial amount - limited to personal wealth (Sole trader/partner) - LTD/PLC can.
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Starter task What do you think are the most popular sources of finance for entrepreneurs starting up a business? Beauchamps High School.
Invention to Venture Section 7 Finding the Money Different Forms of Financing or Not All $ is Created Equal plus The Reality Show: A Panel Discussion ©
GUIDE TO ACQUIRING STARTUP FINANCING. CONTENTS 2 BEFORE YOU BEGIN FORECASTING TYPES OF WORKING CAPITAL FINANCING CAPITAL FOR FIXED ASSETS POTENTIAL FUNDING.
Resource Allocation and Management. Recognize potential benefits of seeking expert advice and search it out whenever there is a gap in knowledge or.
Where Can You Get the Money?. Arranging Financing How will you finance your business? Personal savings Credit from suppliers Loans and mortgages from.
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Entrepreneurship: Ideas in Action © Cengage Learning/South-Western ChapterChapter Plan and Track Your Finances 9.1 Finance Your Business 9.2 Pro Forma.
1 The Starting Line for business. 2 Successful entrepreneurs are: Ambitious…want more out of life Motivated…to achieve goals Passionate… about what they.
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Sources of Financing Tool Kit. General sources of information Useful web Sites Inc. Magazine > vFinance.com, Inc. > –Publicly-owned financial services.
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Becoming an Entrepreneur O An entrepreneur is someone who takes a risk in starting a business to earn a profit O Can you think of a current or historical.
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