Estimating Startup Capital
It is easy to underestimate how much money is needed for a new corporation’s startup and failure to determine the correct level of funding can be the biggest barrier to a successful company launch.
There are several steps to determining the "correct" funding needed. First, develop your business plan - in plain English, what do you intend to accomplish? Second, decide what materials, personnel and location will be needed to accomplish that purpose. Third, develop a solid cash flow projection. Remember to include your own salary as a cost of the new endeavor. Lastly, plan to continually revise cash flow projections as making revisions is a necessary and continual process.
For more on estimating your start up capital, visit Tips for Estimating Startup Capital.
If you have any questions, please contact Wood, Atter & Wolf, P.A., in Jacksonville and Ponte Vedra Beach, Florida.
