#Immediacy on speech making

Cash in hand, bank current and deposit accounts, building-society accounts, national and ...

Cash in hand, bank current and deposit accounts, building-society accounts, national and trustee savings bank accounts, savings certificates, premium bonds, unit trusts, stocks and shares, life-insurance policies, pension-fund contributions, house less outstanding mortgage.; car, furniture and furnishings, domestic equipment, clothes, sports and hobby equipment, jewellery, collections of stamps, coins, etc. If you are married, some of these may be owned jointly with your spouse. Discuss the matter and, if your spouse agrees, draw up three lists 'his', 'hers' and 'joint'. If your spouse does not want to put his or her resources behind you or any more of them then you should make two lists, one for your own resources and one for your share of joint resources.

You may well have gone through an exercise of this nature when you first started your business. If so, you may feel it is unnecessary to repeat it. If it was some time ago, however, this may be a good opportunity to update your figures. For the rest of you, the next step is to decide how much of your personal resources you are willing to devote to the business should it be necessary.

The balance you presumably wish to keep apart for other purposes for example children's education, somewhere to live. in the event of a business collapse.

The first part should be kept in some fairly accessible form; the balance should be placed where it cannot be touched by the business.

Apart from any additional personal resources which you and/or your spouse can make available, there may be other members of the family who have offered to assist or who, you think, might be persuaded to contribute. Put down their names and the amount you think they might contribute - Finally, you may think that your bank or some other financial institution might be willing to put up some money to extend your business. Put down their names too and the amount you think they might advance also the terms you anticipate.

What you can do right Now Online : Construct an operating budget for the next 12 months, using the method described in this section. Construct a cash-flow forecast for the next 12 months, using the method described in this section. Study the pattern of the monthly closing balances of your cash-flow forecasts.

Write down your conclusions about your financial prospects over the next 12 months. Have the above studies resulted in any ideas for changes in your business? Write them 'down. Estimate the value of your tied capital. What basis of valuation did you use and why? Estimate the value of your liquid capital.

Add items above to give your total financial resources. How does this ...

Add items above to give your total financial resources. How does this figure compare with that in your last balance sh... read more

Of course, if you can manage a smile as well, this goes ...

Of course, if you can manage a smile as well, this goes a long way. It also helps if you can listen as well as talk. Customers If you didn't know it before you sta... read more

When the flow dries up, repeat the process with the next item ...

When the flow dries up, repeat the process with the next item in the left-hand column until you run out of steam once again.

Continue in this way

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