Managing business finance during the start-up phase

Prepare a financial plan for your start-up business

Guide

Once you have gathered all your key financial data, including estimates, overheads, and expenses, the next step is to 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).

Stick to your budget

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 see business budgeting.

Free business start-up support

Access free start-up business support from your local council. If you have a great idea but you're not sure how to turn it into a business, or you have already started out in business and require mentorship on your next steps, Go Succeed Start experts will help you to create a business plan, seek funding and put all the foundations in place to get your business up and running.

Complete a short enquiry form or call 0800 027 0639 to register for this free advice and guidance.