Small Business Finance

Small Business Finance

This Course at a Glance

• Take the step into independent working with confidence
• Go self-employed, freelance, manage or start your own business
• Learn all about tax liabilities, budgeting, reporting and more
• A supportive resource to use now and in years to come
• Does not provide a qualification
• 100% online study
• No exams

About Your Course

Have you been contemplating starting your own business venture or stepping out as a self-employed professional? If the worries of getting your head around the financial aspect of going it alone is what’s putting you off, this Small Business Finance course is exactly what you need.

This course has been specifically designed to provide ongoing support to anyone who is self-employed, works as a freelancer or is thinking of starting their own business. It does not provide you with a qualification but instead acts as a how-to guide for small business finances. It will help you get started and also act as a resource you can revert to for guidance as your business venture grows.

By studying this course, you will learn how to avoid the issues that often lead to business failure. You will explore everything that’s required to set up a business, from how it should be structured to tax liabilities, budgeting and reporting, fundraising and more.

A huge benefit of the course is that it’s also been created in a way that’s easy to understand, so you won’t be overwhelmed by jargon and can take charge of your future with confidence.

The course starts by helping you decide the best business structure for you and then progresses to cover areas you are guaranteed to face as your venture evolves.

This includes detailed advice on:

• Filing your annual tax returns
• Creating a budget
• Forecasting
• Deciding whether to take dividends or a salary
• How to raise investment to grow your business

Plus, so much more. The course has also been created in collaboration with Chartered Accountants and Business Directors, who understand what is important and not so important when first starting a business.

Modules

Unit 1: Introduction to Self-Employment

This unit covers:

• Getting started
• Going self-employed
• Things to be aware of

Unit 2: Business Structure

This unit covers:

• Sole trader vs Ltd company vs partnership
• Operating as a sole trader
• Operating as a partnership
• Operating as a Limited company
• What type of company is best for you?
• Comprehensive guide to registering your Limited Company
• Opening a bank account

Unit 3: Tax

This unit covers:

• Tax years explained
• Personal tax
• Self-assessment tax returns
• Corporation tax
• Extracting company profits from a limited company
• VAT
• Cash for taxes
• Penalties and organisation

Unit 4: Basics of Financial Information

This unit covers:

• Introduction to financial terms
• Income
• Expenses
• Profit
• The basics of bookkeeping and double entry
• Creating your financial documents
• VAT account
• Depreciation
• Top tips for software
• Filing your accounts

Unit 5: Financial Reporting

This unit covers:

• Ways to report and track your business
• Understanding your P&L
• Understanding your balance sheet
• Building a cash flow model
• Cash is king but what to do with it?
• Building a reporting structure
• Outcomes

Unit 6: Planning and Forecasting

This unit covers:

• Business plans
• Budgets
• Assumptions
• Modelling
• Diversifying income and resilience

Unit 7: Data for Success

This unit covers:

• KPI’s
• External data
• Revenue opportunities
• Efficiencies and savings

Unit 8: Raising Finance

This unit covers:

• Why you would want or need to raise finance
• Different ways you can raise finance
• Debt vs Equity
• Dangers of debt
• Risk appetite
• The effect on your balance sheet
• What do you need to do to find finance?
• Scaling and how this looks in practise

Unit 9: Important Extras

This unit covers:

• Insurance
• GDPR
• CIS

Entry Requirements

The course is aimed at:

• Individuals thinking of moving to self-employment
• Individuals thinking of starting a business
• Managers of small businesses
• Individuals who want to learn more about business finances

However, you don’t need any prior experience or qualifications to enrol.

All course fees, inclusive of all payment plans including our Premium Credit Limited option, must be settled before certification can be ordered.

*You will have access to the course for 24 months.

As this course does not provide a qualification upon completion, there are no official assessments included.

Instead, it is designed as a supportive resource which you can refer back to at any point in your future.

You will, however, have the opportunity to test your learning through quizzes that are included in each unit.

TQUK

It is important to note that this course is studied for learning support only and does not provide an official qualification.

Established in 2013, Training Qualifications UK are one of the most forward-thinking and agile Awarding Organisations in the UK. They work closely with both employers and providers to ensure learners receive qualifications that have impact in the workplace and help learners succeed in all walks of life.

Upon successful completion of this course, you will be equipped with the knowledge and skills to build a business with confidence or embark on a career as a self-employed individual.

This is because this Small Business Finance course is designed to give you a good understanding of business finances, so you can avoid the common pitfalls that result in business failure. 

No matter the industry you’re in, be it Health & Fitness or otherwise, this course will help support your career and give you the best chance of success.