1. Start-up Businesses  Motivation  Idea? Will it work? Be realistic!  Proving idea  Resources?  Starting  Running  Growing

2. ‘Do the numbers’…  Cash Flow Forecast – expected [or actual] cash receipts and payments  Profit and Loss account [P&L] – performance over a specific period (12 months) showing total money in and out during that period…invoice dates not cash received  Balance Sheet – a snapshot at a given time showing what is owned [assets] and what is owed [liabilities]  Get a good accountant and keep her/him

3. Legal Considerations Type of business [sole trader, partnership, Ltd., limited liability partnership] Conveyancing [acquisition of leasehold/freehold premises and advice on the complexities of landlord/tenant legislation] Intellectual Property [patents, trademarks, copyright, registered designs] Employment Law [beware!]; Health & Safety Litigation [debt collecting, passing off, patent/trademark infringement, breach of contract etc.

4. Sources of finance Bank overdrafts Bank loans Private loans Venture capital Business angels Grants

5.  Work in groups  You are a group of investors with money to invest  Would you invest in O 2 Scuba?  Why? Why not? O 2 Scuba You have 15 min. to create a three minute verbal response