Financing Your Business in Health and Wellness

Creating a successful business means understanding the world of finance. Although this world is often intimidating, financial literacy is a critical skill for entrepreneurs. Many businesses fail because of a lack of adequate funding, so this remains one of the biggest challenges faced by entrepreneurs when starting, operating, and expanding their business. Understanding your business’ financing needs and knowing the range of financing options available to you will improve your odds of success.

Purpose/GoalThe outcome of this course is for the learner to describe the financial issues facing new or growing businesses, including types of startup expenses, crucial financial statements for business success, common types of financing available for businesses, and key investment ratios used in business.

Course Objectives – Upon completion you will be able to do the following:

1. Describe the types of startup costs and essential expenses needed by a business.
2. Identify key factors to consider when determining funding needs of a business.
3. Compare and contrast the key financial statements (balance sheet, income statement, and cash flow analysis).
4. Explain the purpose of assumption sheets and breakeven analyses.
5. Discuss common types of financing.
6. Explain key investment ratios used in business.