Published on : 03 June 20203 min reading time
The design of an entrepreneurial project involves a number of essential phases and numerous procedures: project acceptance, business plan, financial provision. Find in the following lines, the explanation of these three essential points.
ACCEPTANCE OF THE ENTREPRENEURIAL PROJECT
An entrepreneurial project started with a design that must then be advanced to have something meaningful. If the project idea is correctly determined, it is essential to ensure its feasibility.
There are at least two important elements to consider when setting up a project for the creation of a company. The first is the personal study. Is your aspect homogeneous with regard to the administration of such a project? Do you therefore have the necessary skills and knowledge? If the case arises, do you have the right people to form the project team?
Following this first element, it is also necessary to focus on the financial study. For example, do you have sufficient financial resources to continue such a project and enough means to meet your individual needs until the new company provides you with an income?
THE BUSINESS PLAN OF PROJECTS RELATED TO THE CREATION OF A COMPANY
To set up a project of creation of a company or an EURL, it is absolutely necessary to write a business plan. This allows the project leader to go from the idea to a real entrepreneurial project, which will materialize everything through this document. It is composed of two parts. Firstly, a descriptive and economic part, consisting of financial and legal provisions, the commercial and marketing strategy, the presentation of the project group, a marketing exploration work, particularly the economic model. Secondly, a financial part, consisting of a financial forecast (cash flow plan, balance sheet, accounting document, use-resources table, etc.).
THE FINANCIAL PROVISION OF THE PROJECT RELATING TO THE CREATION OF THE COMPANY
The financial provision for setting up a company must not only make it possible to support the project in question, but also to ensure that the entrepreneur has a substantial income to meet his or her individual needs. With regard to the financial provision within a company, the financial means provided to the (bank loan, grants and subsidies, current account contributions and capital contributions) must be likely to satisfy the total needs. It is then recommended that flexibility is needed to prevent cash flow problems caused by the company’s start-up difficulties or unforeseen circumstances or other reasons.
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