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Unit 3 – Financial Services to Support Business.

Unit 3 – Financial Services to Support Business. P2. P2 Overview. Describe the sources of initial finance, together with cash flow and investment factors a person might take into account when seeking to establish a selected new business. Task.

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Unit 3 – Financial Services to Support Business.

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  1. Unit 3 – Financial Services to Support Business. P2

  2. P2 Overview • Describe the sources of initial finance, together with cash flow and investment factors a person might take into account when seeking to establish a selected new business.

  3. Task • Produce a leaflet to guide entrepreneurs on the financial aspects to consider when seeking to establish a start up business. • You need to lean your advise towards your own chosen start up business.

  4. Booklet Sections • Where can I obtain finance to start my business idea? • Why do I need a business plan? • What is cash flow and why do I need to consider it? • How will outside investors judge my business?

  5. Initial Finance • Where can a new start up business get finance from? • In groups discuss and come up with list.

  6. Initial Sources of Finance Business Partners Overdraft Trade Credit Credit Cards Venture Capitalists Sources of Finance Family / Friends Own savings Leasing Bank loans Grants (Princes trust) Commercial Mortgage Retained profit Business Angels

  7. Which One Do I Choose? • This will depend on different circumstances: • Future sales and cost projections • Size of the business • Amount of the money needed • Who will actually lend you the money • Amount of initial assets needed • Link

  8. Some Links • Grants • Grants 2 • Smallbusiness.co.uk

  9. For next Thursday • Complete: • Where can I obtain finance to start my business idea? • Describe (and source) the various sources of initial finance available, with advantages and disadvantages. • Why do I need a business plan? • Explain why the business plan is important is securing finance (think about what Alan Ison talked about – RISK and SECURITY) • You can use information from P1 to help you with this.

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