Finance 1 (les)
5 important questions on Finance 1 (les)
What are the legal forms to use for a start-up?
- Sole proprietorship (eenmanszaak)
- Partnership (VOF)
- Corporation (BV or NV)
- Limited liability company (US only)
The decision is determined by:
- Administrative expense
- Liability issues
- Tax issues
What about the survival stage? (0,5 to 1,5)
Financing needs: relatively large cash shortage
What is a positive cash burn rate?
- More cash outflow than inflows. This is normal for high growth start-up firms.
- Of course, when maturing the cash burn rate should turn negative
- A current ratio of 1,0 is a fairly good indication that the company is going to have problems, although there are often short-term fixes for short-term problems
- As your company evolves, your current ratio should become (and remain) above 1,2
- If you are comparing your current ratio from year to year and it seems abnormally high, you may have problems with collecting accounts receivable or be carrying too much inventory
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Short term cahs planning is extremely important for early-stage venture (= start-up, survival, and early rapid growth stage) because:
- These ventures cannot provide the cash needed themselves from operating profits
- Outside options are hard as well as the firm has little to no track record
- Urgent cash needs distract from the core business
Short term planning involves projecting monthly balance sheets in order to anticipate cash needs and prevent cash panics
There are two ways of predicting the future performance of a company (when looking at cash flows)
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
