In the Managing Money and Making a Profit workshop we look at what it takes to ensure that your products are priced appropriately so that you sell in sufficient volume and that you trade profitably. The workshop will cover -
•The costs of starting/running a business
•Determining your own personal financial position
•How to finance your start-up costs
•How to project your sales forecast
•Review different bookkeeping systems
•Understand Profit & Loss Accounts
•Understand Balance Sheets
•How to calculate gross profit margins
•How to calculate your own breakeven point
•Preparing a cashflow forecast
•Understanding Tax, National Insurance & VAT
•What records you need to maintain
•How to get paid and having suitable terms of trade