• University of Leeds

Starting a Business 5: Managing Finances

Find out how forecasting and managing your finances can lead to a profitable and sustainable business.

48,962 enrolled on this course

Starting a Business 5: Managing Finances

The management of finances is crucial to a successful business; financial information provides the evidence to support your decisions about a business and helps to justify those decisions when you present them to other people. Whether you have an idea for a future venture or you already have a side-line business whilst studying, this course will introduce you to key financial information and gives you a chance to discuss your ideas with others.

This course is the fifth in a series of six about ‘starting a business’.

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Skip to 0 minutes and 8 seconds This is the fifth course in a series of six, designed to help you on the journey of entrepreneurship. In this course, we illustrate the importance of financial information and forecasting. Financial information is key to the success of any business. It provides entrepreneurs with the evidence to support their decisions and helps to justify those decisions when presenting them to other people. You will have the opportunity to explore the importance of financial forecasting. By considering a range of forecasting techniques through videos, activities, and quizzes, this series of business courses introduce case studies of young entrepreneurs who are already on the journey. They share their business challenges with you and a panel of business advisers.

Skip to 0 minutes and 50 seconds Through discussion and activities, you have plenty of opportunity to define and work on your business plan, as well as helping others.

Skip to 0 minutes and 58 seconds Sign up now to “Starting a Business: Managing Finances.”

Syllabus

  • Week 1

    Understanding forecasting

    • Welcome

      This week, you'll explore the importance of managing finances when starting a business. But before you get started, take the time to meet your fellow learners and share your reasons for joining this course.

    • The importance of financial information

      This activity introduces you to the importance of understanding, creating and interpreting financial information. You'll spend time reviewing the financial information of a company of your choice.

    • Hannah's business challenge

      In this activity, Hannah shares her business challenge. This involves deciding which direction her business should take. You will have the opportunity to join a team of advisers in helping Hannah move forward.

    • Summary

      To close this week, we would like to introduce you to some of the options for studying at the University of Leeds, and look forward to next week.

  • Week 2

    Realising your vision

    • About week 2

      This week, you have the opportunity to define your business vision, communicate and collaborate with other learners from around the world and share and discuss your ideas.

    • Your turn

      In this activity, you will research an organisation in your local area and examine the long-term viability of its business proposition.

    • Your business plan

      Throughout this series of courses, you are encouraged to document your ideas and thoughts in order to produce a coherent business plan.

    • Summary

      Having reached the end of this course, you can test your understanding and then look forward to the next course in the series, or further courses from the University of Leeds.

When would you like to start?

Start straight away and learn at your own pace. If the course hasn’t started yet you’ll see the future date listed below.

  • Available now

Learning on this course

You can take this self-guided course and learn at your own pace. On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Discuss why forecasting and planning are key skills within any successful business.
  • Discuss sales revenue forecast, net profit and the purpose of a cash flow forecast.
  • Evaluate the entrepreneur’s business challenge: How can Hannah make her business more profitable?
  • Identify business finances in a business plan.
  • Assess costs, prices, gross profit and cash flow forecasts.

Who is the course for?

This course is part of the Going to University collection which has been specifically designed for students at schools and colleges. They provide a taster of undergraduate study at the University of Leeds and help students to decide which subject to study at university.

Completion of the courses will also enhance students’ university applications.

The courses can also be used as a teachers’ classroom enrichment resource.

Courses in this collection are also great for people that want an introduction in the specific subjects discussed in each course.

Who will you learn with?

Lecturer in Enterprise at the University of Leeds. Passionate about entrepreneurship. Part of the Leeds Enterprise Centre team delivering 'Starting a Business' http://lec.leeds.ac.uk/about/lec-staff

Who developed the course?

University of Leeds

As one of the UK’s largest research-based universities, the University of Leeds is a member of the prestigious Russell Group and a centre of excellence for teaching.

Learning on FutureLearn

Your learning, your rules

  • Courses are split into weeks, activities, and steps, but you can complete them as quickly or slowly as you like
  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
  • Stay motivated by using the Progress page to keep track of your step completion and assessment scores

Join a global classroom

  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
  • Join the conversation by reading, @ing, liking, bookmarking, and replying to comments from others

Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

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