English for Business and Entrepreneurship (week 4)

 English for Business and Entrepreneurship (week 4)

What I learned about the course:

English for Business and Entrepreneurship (week 4)

 

Financial.

The financial portion of a business plan shows that the entrepreneur has a thoughtful plan for the current and future financial condition of the company. We will clarify start-up costs, operating costs and revenue forecasts in this video. We are going to speak about why they are significant components of a business plan's financials.

Startup Expenses, Operating Costs, Revenue Forecast, and an Income Statement are also part of a business plan's financial portion. The basic components of an Income Statement were analyzed in this video. Revenue, multiplied by the price of each product, is the number of goods sold. Costs and Sales. During a period of time, sales minus costs.

For example;

A start-up taxi service would need at least one car, gasoline or petrol, and a driver. The car, the gasoline, and the driver's time, while the business is looking for customers, are all start-up costs. Let's look at possible start-up costs to consider for goods, such as a paper clip. 1. Materials or supplies. This could be recycled metal for a paper clip. 2. Manufacturing or production. A factory to make the paper clips. 3. Employees. How many are needed to make the paper clips? 4. Office rent and office supplies, computer, printer, paper.