Financial Principles for Starting a Business

Presenter Dick VerEecke & Rick Dassatti are Merrimack Valley Certified SCORE mentors

In this workshop, experienced SCORE mentors will help you understand typical business cost and expenses and you’ll receive a simple tool to help you plan for them and estimate the sales volume you’ll need to reach your breakeven point and then realize a profit.
We’ll explain alternatives and options for finding funding for a startup and explain the pros and cons of the various types of business structures, i.e., sole proprietor, llc, S-Corp or C-Corp.

After this session, you should have the tools necessary to develop a financial plan for your business which you can use to support a funding request and to help manage your business, as well as get a Tax Identification Number/Employer Identification Number from the IRS, register you business with the State and open a business bank account.