Enterprise Presentation

Open publication - Free publishing - More enterprise

My section to talk about during the presentation (notes):

• In order to get hold of capital we need to obtain a bank loan which requires us to put up half of the £25000 start up costs ourselves - show level of commitment to the business. 
• As business is 4 years in future - gives us time to work for our share or borrow from family and friends (£3215).
• Based on interest rates with Alliance and Lecister of 6.9% APR typical, a loan of £12500 payable over 3 years would be £385 a month.
• To obtain loan - need to provide cash flow showing indirect costs - insurance, utilities etc and direct costs such as wages.
• Whilst attracting new clients we foresee the 1st 6 months to be difficult financially.
• We predict sales for 1st month to be £6400 and after 6 months achieve £13200 a month to break even. We envisage to have enough money left over from start up loan to cover overhead costs in the 1st 6 months. 
• We had decided to keep track of our own accounts using a Microsoft accountancy package to cut costs of paying an accountant. 
• We each need to work an average of 16.5 days a month - 8 hours a day to cover costs. This will be challenging in the initial stages whilst attracting new clients. 
• To compensate we have raised our base hourly rate of a cost covering £16.40 to £25 each an hour - £800 for all 4 of us for 8 hours.