In this module you will learn the business basics of governance, legal and financial systems for start-up businesses. You will learn how to incorporate the right type of business, what legal loopholes to jump through and what mistakes not to make. You'll gain a foundational understanding of legal and fiduciary duties in a business; what it means to be a director and what simple legal provisions you can put in place to protect yourself and the business.

As well as the legal, tax and governance basics you will practice and learn some basic financial analysis, planning and modelling. You will learn how to create a basic cash flow forecast, P&L summary, and revenue timeline. You will be equipped with basic modelling techniques on Excel so you can track where your cash is being spent to understand when you might run out of runway or when you can hire your first member of staff.

You will be encouraged to create a financial model for your own business that could see you through the first 18 months of your company's lifecycle and you will be encouraged to make the necessary preparations for company incorporation if that is the route you go down, as well as any other legal agreements you could need with co-founders, contractors or suppliers.

This module will be taught in workshop learning environments and assessed by a review of your own forecast and model creation. You will also have access to mentors to support you in your company set-up process.

A diverse range of simulation and experiential learning strategies will be used on this module, and these will include:
- Business Planning Seminar
- Workshops on financial analysis, planning and modelling
- Financial modelling specialist practicals
- Seminars on legal, tax and governance planning
- Pitching Exercises
- Assignment workshops
- Mentor sessions
- Keynote Speakers
- Role Modelling.

This module will include some introductory seminars and key content sessions providing pillars to the learning. These will be accompanied by coaching sessions, interactive workshops, facilitated activities and guest lectures. The module involves 30 hours of tutor led sessions and 170 hours of independent study, to research background information related to the delivery of the core material, to create forecasts, to work on the assessments and to engage in informal teamwork related to this module

1. Demonstrate a systematic understanding of the business planning process for start-ups, including financial planning, governance, legal provisions, and risk management. Knowledge and Understanding, Learning

2. Demonstrate a critical awareness and evaluation of the approach to business planning, through production of a financial forecast. Analysis, Application

3. Communicate your financial forecast through a pitching exercise and respond to constructive criticism in a self-reflective manner. Communication, Reflection

Blackboard VLE and Microsoft Teams access.
Dedicated Entrepreneurial Hub space for cohort.
Workshop materials.
Financial Modelling Tools.
Access to reference material (text books, journal articles, podcasts, TED talks, websites and videos).

Barrow, C. and Barrow, C. (2008) Practical financial management a guide to budgets, balance sheets and business finance. 7th ed. London: Kogan Page.

Blank, S. and Dorf, B. (2020) The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company. Newark: John Wiley & Sons, Incorporated.

Butler, D. (2000) Business Planning: A Guide to Business Start-Up. Jordan Hill: Routledge. doi:10.4324/9780080524580.

Finch, B. (2013) How to Write a Business Plan. London: Kogan Page.

Laws, J. (2018) Essentials of Financial Management. Liverpool University Press.

Markovitz, D. (2015) Building the Fit Organization: Six Core Principles for Making Your Company Stronger, Faster, and More Competitive. McGraw-Hill.

Merrin, S. and Adler, C. (2016) The Power of Positive Destruction: How to Turn a Business Idea into a Revolution, The Power of Positive Destruction. Somerset: John Wiley & Sons, Incorporated.

Spedding, L.S. (2009) Due diligence handbook corporate governance, risk management and business planning. Amsterdam: CIMA.

Stutely, R. (2007) The definitive business plan the fast-track to intelligent business planning for executives and entrepreneurs. Rev. 2nd ed. Harlow, England: Financial Times Prentice Hall.

Taneja, H. and Maney, K. (2022) Intended Consequences: How to Build Market-Leading Companies with Responsible Innovation. McGraw-Hill.

Zehle, S. and Friend, G. (2008) Guide to Business Planning. 2nd ed. London: Economist Books.

In addition to these reference texts, a combination of journal articles, podcasts, TED talks, websites and videos will be used to provide detailed examples and context to the learning.

This module will provide you with an understanding of the fundamentals of company structure, governance, and important legal terminology as well as the principles of investing, financial modelling, and business planning. Through business planning and pitching exercises, you will gain feedback, develop your approaches and identify suitable strategies for your future entrepreneurial ventures.

This module is assessed by:

1. Business Plan (Learning Outcomes 1 and 2)
This module will provide you with the knowledge and skills to produce a business plan for your chosen venture. This assessment will involve you utilising the appropriate tools to produce an impactful and realistic business plan, with a clear focus on your financial forecasting approach.

2. Pitching Exercise (Learning Outcomes 1 and 3)
You will then take part in a pitching exercise to potential investors to enable development of your venture, based on the business plan produced (Assessment 1).