Financial Management – 9.30am arrival

Tax and Bookkeeping Essentials

We’ll start the morning by making sense of the financial side of running a business—focusing on the key taxes you need to know about, the importance of meeting deadlines, and how good bookkeeping can help keep everything running smoothly.

We’ll cover:

The difference between being employed and self-employed, and between sole traders and limited companies.

An overview of key taxes: Income Tax (Self-Assessment), National Insurance, Corporation Tax, and VAT—including filing and payment deadlines (a downloadable tax rates leaflet will be available).

Bookkeeping basics: why it matters, how it supports your business, and what good records look like.

Tools for bookkeeping: using spreadsheets (a simple template will be available) and an introduction to online accounting software.

What counts as a genuine business expense—and what you can claim for.

There’ll be time for questions throughout, plus a dedicated Q&A at the end of each section.

Lunch break – 12:00pm – 12:30pm

Tea and coffee will be provided throughout the day. Attendees are welcome to bring their own lunch or visit nearby shops

Cash Flow Forecasting Essentials

In the afternoon, we’ll turn our attention to planning ahead - breaking down the cash flow forecast into simple, manageable steps that help you understand what your business needs to stay on track and grow.

We’ll cover:

Your drawings: how much you need the business to pay you.

Fixed costs: what it takes to keep your business running.

Variable costs: what it costs to deliver your product or service.

Breakeven point: how many sales you need to cover your costs.

Forecasting for growth: how to flex your numbers to meet your goals.

We’ll work through a practical example together, while helping you apply the same thinking to your own business. By starting with costs and working backwards, you’ll leave with a clearer picture of your financial needs—and a simple tool to help you plan with confidence.

Sources of Finance

To close the day, we’ll explore the main funding options available to small businesses, including alternative sources of finance such as the Start Up Loan Scheme. We’ll look at the risks of borrowing and explain key concepts like serviceability, security, and stake, helping you understand how lenders assess applications and what they’re looking for.

We’ll also touch on equity investment for businesses with growth potential, and how to decide if it’s the right route for you.

By the end of the session, you’ll have a clearer understanding of your funding options, how to assess what’s appropriate for your business, and what steps to take next.

Closure - 4.15pm

Start-up and Grow: Financial Management