A Follow On From Last Week…
Take a listen to this episode to have quick insight into finances and how they are key to the business plan.
What are different types of cost?
1 Direct Costs: paid when you have an order, ones that only relate to the specific order or service you have been paid for.
2 Fixed Overheads: These will have a minimum term and will need to be paid at scheduled intervals.
3 Variable Overheads: Items such as marketing and staffing.
4 The contingency allowance
When it comes to finance – cash is king and you have to be honest with yourself.
We just want to note here that this is just a quick look at different finances and their role in businesses. If you are looking for more in-depth information we suggest you looking into some specialist content. We’ve got a lot to cover and there are many interpretations of this subject!
As always, thank you for listening! Beth