Catalyst Boost Camp - Forecast

[stephen-rowan]

Catalyst Boost Camp - Forecast

1) Revenues from Sales & Grants

• And related Costs of goods related to those revenues.

2) Your recurring costs.

• That will typically be costs related to salaries, office rent, monthly costs such as phone, broadband, insurance etc.

3) Activity based costs

• including investments.

4) finance your project.

• This can be by investing in your company (equity) or by loaning money. If you loan money you may do that in the form of a loan that you pay back each month or by getting a credit limit.

[stephen-rowan]

• Best estimate of expected revenues
• Costs to generate revenue
• Short period - ideally 3 months - allows response to change
• Profit / Loss forecast
• equity - can open access to a partners network
• financing must come from necessity

[stephen-rowan]

Forecast

No matter how you look at it, entrepreneurship is closely related to money. So you have to have an idea about both whether you will make a profit or not, and how your cash flow will be.

We will start reviewing your money objectives. Based on this, we will generate: 1) the Revenues from sales and Grants and the related Costs of goods related to those revenues.

Next you will be asked to define 2) your recurring costs. That will typically be costs related to salaries, office rent, monthly costs such as phone, broadband, insurance etc.

Then we will continue with the tasks that includes costs. Based on this we will create all 3) activity based costs, including investments.

Next you will be asked to define how you want to 4) finance your project. This can be by investing in your company (equity) or by loaning money. If you loan money you may do that in the form of a loan that you pay back each month or by getting a credit limit.

Finally, you will be asked to define the relevant taxrates and payment times. We will suggest default values for you based on which region you do business in.

[stephen-rowan]

Rules and regulations - introduction to taxes and fees

There are many requirements to you as an entrepreneur. Keep in mind that it is always your responsibility to be in compliance with all rules and regulations.

In relation to your Forecast, you must, among other things, manage the VAT percentage and relevant taxes and social charges related to wages.

Feel free to watch this video before moving on to the next step where you can define tax rates and payment times.