To complete this assignment you will need to:
Set up a run a business using SimVenture software for 12 Months. You initial capital is to be £25000 of your own money. The Sim Venture settings are: Difficulty Level = Moderate; Owner = New Starter.
You will be required to prepare a 12 month business review which includes the following:
(1) Business background section
• Introduction
• Chairman’s statement
• Overview of product/service, and a review of potential changes to be made
• A review of the relationship between the business and its stakeholder groups.
(2) Financials Section
• 12 month Income statement
• Balance sheet as at the end of the year
• Cash flow statement,
• Budgets as appropriate including project capital budgets
• Appropriate financial ratios, and an assessment of their value
(3) Future developments
• Sources of finance actual and potential statement,
• Company mission statements
The review is to be accompanied with appendices, which show
• Monthly production sales and profit figures [for 12 months]
• Monthly cash flows into and out of the business [for 12 months]
• Capital/loan requirements and timing
• Marketing/product/ customer analysis. Note this is your analysis based on any research carried out by you or on your behalf.