COURSE OVERVIEW:
Business Startup and Forecasting is the study of the principles, strategies, and analytical techniques involved in creating, planning, and sustaining a successful business venture. This discipline focuses on transforming ideas into viable businesses through structured planning, financial analysis, and informed decision-making. It emphasizes understanding market conditions, resource allocation, risk assessment, and the financial performance of a business over time.
This course introduces students to the essential concepts and practical skills required to start and manage a business, with particular focus on forecasting and planning for future growth. As students engage in this course, they will develop a strong foundation in entrepreneurship, business planning, and financial forecasting, enabling them to evaluate business opportunities and make data-driven decisions.
The method for accomplishing this includes the application of theoretical concepts to real-world business scenarios, development of basic business plans, analysis of costs and revenues, and the preparation of financial forecasts such as cash flow projections, income statements, and break-even analyses. Students will also learn how to assess market demand, identify risks, and plan strategically for sustainability and expansion.
Among the topics included in this course are: introduction to entrepreneurship, idea generation and validation, business models, market research, startup costs, pricing strategies, revenue forecasting, budgeting, cash flow management, financial projections, risk analysis, and business performance evaluation.
LEARNING OUTCOMES:
Upon completion of this course students will be able to:
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Explain the fundamental concepts of entrepreneurship and business startups.
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Identify viable business ideas and evaluate their feasibility in a competitive market.
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Describe different types of business models and startup structures.
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Conduct basic market research to assess customer needs and demand.
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Identify startup costs and operational expenses associated with a new business.
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Prepare basic financial forecasts, including sales, expenses, and cash flow projections.
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Analyze financial data to support business decision-making.
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Calculate break-even points and assess business profitability.
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Identify common business risks and propose strategies to mitigate them.
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Design and present a simple business startup plan incorporating forecasting and financial analysis.
