Finance for your Business
You need money to get your business up and running. When starting a business from scratch, the key to survival is ensuring sufficient cash flow in the first 12 months. The best approach towards achieving this is a well planned and researched cash flow analysis, starting with a close examination of costs involved with the setting up of your business.
A cash flow projection for the first 12 months is essential for you to determine your cash position and work out if you have enough cash coming in to cover your projected set-up costs and cash outgoings. Estimating cash in and out can be tricky as there are so many unknowns at this stage, a cash flow template can be downloaded from the Victorian Government website. This is just an example of the many cash flow templates that are available free online.
This worksheet is an essential tool for forecasting and managing your working capital needs and on completion you will know how much money you need to borrow or self fund to get your business up and running.
It can be difficult to come up with figures that relate to the future when you don’t have business experience to draw on. Having been involved with a huge amount of business’, across a variety of industries, the team at GGA can assist you to prepare a forecast which you can use when applying for finance.