This course explores the fundamental concepts of small business finance.
This course explores the fundamental concepts of small business finance. After introducing the key stages of starting and growing a small business, it shows why small businesses tend to fail while others grow and prosper. You’ll learn about the types of capital that small businesses can use for operations. You’ll also learn how to estimate the start-up costs, operating expenses, and financing options you’ll need to grow your business.
In addition, the course covers forecasting revenue, cash flow, and projecting customer engagement and presents how they play a critical role in keeping a small business competitive. You’ll learn about how proper product pricing can be a game changer for your small business. You’ll also learn the importance and purpose of bookkeeping and good recordkeeping. Lastly, you’ll review maximizing growth using controls.
Learning Objectives
- Learn how to forecast revenue and cash flow
- Learn how to prepare a customer engagement plan
- Understand the process of estimating start-up and operating costs
- Identify the different controls that can make a small business more efficient
Skills you’ll gain
Entrepreneurial FinanceSmall Business AccountingSmall Business FinancialsSmall Business LoansSmall Business ManagementSME FinanceWhat You'll Learn
- Forecast revenue and cash flow to keep a small business competitive
- Estimate start-up costs, operating expenses, and financing needs for your business
- Prepare a customer engagement plan to support business growth
- Identify the types of capital and financing options available for small business operations
- Apply proper product pricing to strengthen your small business
- Identify controls and processes that make a small business more efficient and manage growth
Key Takeaways
- The course explains why some small businesses fail while others grow and prosper.
- Forecasting revenue, cash flow, and projected customer engagement plays a critical role in keeping a small business competitive.
- Proper product pricing can be a game changer for a small business.
- Bookkeeping and good recordkeeping serve an important purpose for small businesses.
- Controls and control processes can be used to maximize and manage business growth.
Frequently Asked Questions
What does this course cover?
It covers the fundamental concepts of small business finance, including the key stages of starting and growing a business, why businesses fail or succeed, types of capital, estimating start-up and operating costs, financing options, forecasting revenue and cash flow, customer engagement, product pricing, bookkeeping and recordkeeping, and managing growth using controls.
What will I learn to do in this course?
You will learn how to forecast revenue and cash flow, prepare a customer engagement plan, estimate start-up and operating costs, and identify different controls that can make a small business more efficient.
Who is this course for?
It is designed for people learning the fundamentals of small business finance, covering skills such as entrepreneurial finance, small business accounting, small business financials, small business loans, small business management, and SME finance.
Does the course address financing for growth?
Yes. It covers financing options, when to consider equity financing, estimating your financial needs, managing economic uncertainty, and financing future expansion.
How is the course structured?
The course is delivered as a series of lessons beginning with a Welcome and ending with a Conclusion, and it includes several Test Your Knowledge checkpoints throughout.
Transcript
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Welcome to KnowledgeCity's course, Small Business Finance Basics. In this course, we'll explore the basic concepts of small business finance and learn about key stages of starting and growing small businesses. This course will detail the reasons why some small businesses fail, while others grow and prosper. If you're a business owner, you'll learn about the types of capital you can use for operating your business, how to estimate your startup costs, operating expenses and financing options when it comes time to grow your business. In addition, we'll cover the basics of forecasting revenue, cashflow, and projecting customer engagement. You'll be introduced to proper product pricing, the importance of bookkeeping and good recordkeeping, and maximizing growth through the use of controls. Let's get started.
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