when does a business become a "risky Business"?
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Hi all,
I want to know when a start up looks like it might become a "risk", in terms of finance. I've been working on my profit forecast and can see the following:
1)My total sales for the year will be £62500
2)My Breakeven point will be £27500
3) My monthly breakeven point will be £2291.660 aprox.
I'm trying to get as much of a financial cushion for the first year as possible to give me time to get things going..but i'll need quitew a lot to do that.
My question is how much cash do you think I need realistically for this cushion? 6 months/1year? People have said 2 years...i'd be broke before I start if i did that
The main income would be from Tourism and flowers so its all seasonal. Im
Intending to advertise this autumn for next season but I'm forecasting low in Jan-March.. any suggestions or help would be appreciated.
Vicks
Vicks