How do I survive until my business is off the ground?

Introduction

It can be a number of months before a new business is profitable and generating a cash surplus. You may need alternative sources of income during this period, if only to cover your outgoings. If your business does make a profit, you may want to re-invest it to help your business develop.

This guide gives advice on how to keep your business afloat in the early days. It will help you work out your profits and financial needs, reduce your spending, re-invest your money and find further funds.

Careful planning and the right advice can make this transitional phase much easier to manage. A Business Link adviser or a financial adviser can help you address these issues further.

Subjects covered in this guide

• Introduction
• Forecast your personal financial needs
• How much money will your business make?
• Make savings
• Other sources of income
• Prepare a financial plan
• Find support
• Here's how I survived my first year in business

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