Finance for Business Startups

When a nascent entrepreneur comes up with an idea for a business venture, they need to develop a business plan and figure out how to take it from an idea to a reality. There’s an old adage that, it takes money to make money. Sadly, this is a fact of life. Even a physician starting a medical practice can not just set up shop in their living room. They have to finance their practice much the same way as any other professional has to. Every business plan should have an entire chapter on finance options. This course is about how business entities acquire startup capital, manage cash flow, borrow money and invest profits. Students will learn the role of angel investors and hedge fund managers in taking an idea and financing it. It is also about how letters of credit (LC) are used in international business transactions and teaches students about the elements of LCs, regulatory agencies that provide guidance on LCs, and the various documents necessary for the shipping of goods internationally. When it comes to business, there is no one right way to do anything. There are as many different approaches as there are different opportunities. The goal of every business student is to synthesize the information and extrapolate from that information that is necessary to achieve their end business goal. Understanding the principles of finance is an integral part of understanding business basics.