If you're thinking about launching a new business, you may not know where to start with your finances. Every new business requires some form of financial investment to get started and and figuring out the amount required before you get too far into the process is essential. Estimating costs and income is key for any new business, whether you're a fast-moving start-up or still weighing the pros and cons of chucking in the day job. These numbers will help you decide if your business is viable or not, and show you a quicker path to breaking even and long-term profitability. Ideally, you should be able to forecast your expenses and anticipated cash flow for the first month, three months, six months and year of business. This information will reduce financial uncertainty and help you make smart decisions.
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