Guide

Managing business finance during the start-up phase

Prepare a financial plan for your business

Once you have gathered together all your key financial information such as estimates, overheads and expenses you can produce a financial plan.

The first step is to draw up a budget - a plan for spending and saving your money.

You should:

Download a spreadsheet containing cashflow forecast, profit and loss forecast and sales forecast templates (XLS, 21K).

Once you have drawn up your budget, it is important to stick to it so you don't risk overspending or running out of money for essentials. The key to budgeting is maintaining simple but up-to-date records. You will need to keep track of where your money comes from and where it goes.

For more information on preparing a financial plan read business budgeting.

Watch Invest NI's tutorial on managing cashflow below.