This course is designed for anyone who is considering starting a new business, who has recently started a new small business, or who has been in business for a few years but needs a refresher or more formal training about the financial aspects of running a business.
The purpose of this course is to provide a broad overview of the vital financial aspects of running a small business, including bookkeeping, financial projections, financial statements, financing, and managing cash flow.
The learning outcomes of the course include:
- Understand financial management basics and why they are important to a small business.
- Understand financial management practices, rules, and tools that are commonly available to a small business and how they work.
- Understand the basics of start-up financing, working capital financing, and fixed assets financing.
- Understand the purpose of cash flow management for a small business.
- Assess a cash flow cycle and make some cash flow projections.
Small business owners often start a business because they are passionate or an expert about a particular idea or topic. They do not necessarily feel equipped to handle the fiscal responsibility of running the business, but without that knowledge, it is difficult for businesses to be successful. After completing this course, participants will better understand financial management and become comfortable discussing the fiscal nature of their business with potential financiers, stakeholders, and other professionals.