Business start up.

For any who have read some of my posts on the depression thread, i am trying to set up website/database to help poeple with mental health problems.
It would, when fully set up and running, enable anyone in the UK, including patients, family members and professionals to find local mental health organisations whether private psychologists or NHS and other organisations that will be able to help.
I have a tentative offer of funding if i put a satisfactory application in however i don't know how to do a cash flow forecast.
The business will not be trading.
It will make it's money from psychologists and other fee charging professionals who pay a yearly fee to sign up to have their business on the site.
Anyone on here that can advise me would be appreciated.

PM if you need further details on what exactly it will do.

 

Great idea mate.

Wish you all the best with this.

 

Do you not have business start up places you can go to for help with how to do cash flow forecasts?

Fantastic idea though mate and good luck with getting it set up.

 

Good luck with this.
A cash flow statement shows whether you have enough cash to keep the business running. So it shows the amount of cash that you have over time.
It is fairly easy to do a cash flow forecast.
Make a spreadsheet with months for the columns and income/expenses for the rows.
Your income would be the fees paid to you for listings on your site. Show these on a monthly basis. You may possibly have an additional source of revenue by running adverts on your site - I don't know.
Your expenses would be the costs associated with running the business eg salaries, rent, electricity, website hosting, domain name renewals, advertising, telephone, postage etc. Show these costs in the months you need to pay for these.
Your cash flow is then the running total of the difference between income and costs. If it is positive in the long run you are successful. If it is ultimately negative you are not.
When you make the forecast be pessimistic. Include every cost you can think of and be able to justify why your sales will increase over time.
Anyone reviewing a cash flow forecast will do this with a degree of scepticism and if they can find costs you have not accounted for or they believe your sales are too optimistic they will show you the door.
The link below may help...
http://startups.co.uk/6-golden-rules-of-accurate-cashflow-forecasting/

 

If your in Scotland I highly recommend going along to the business gateway, fantastic resource for start ups! Will help you with all those sorts of things and it's all free.


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Thanks for the info guys.
Business hasn't started yet but to get the funding i need to produce a cash flow forecast but the online form that i have to fill in is like nothing i have seen before.
To kendona, i know of the Business Gateway but can't use them as i am in England.
I am booking a meeting with some business people through my local council.
Hopefully they can help.
Will go to my bank as well to see what they can do.

To The Tsar, i will NOT be selling anything, well just the idea but not actual products.

Again, thanks for the help guys.

 

Great idea mate, all the best with it.

 

Spoke with the funders about the cashflow forecast and they put me in contact with 2 Business start up agencies were i live so will contact them tomorrow.