Estimating financial information, such as launch expenses and predicted earnings, is an important part of effectively starting a business.

A financial strategy determines how much it will cost to launch your business and where you will obtain the necessary resources.

It also anticipates income and profit once the business is open, so you know when the business will be lucrative.

Your business plan’s financial facts can help you acquire money from investors and lenders, making it a very useful resource.

In this session, you will use a spreadsheet to assess startup costs and sources of money for your business.

In addition, you will forecast profit and loss for the first year.

This type of financial planning will assist you in preparing to contact a bank for a loan.