Start Up Academy Vol.2 has continued its vision along with the third seminar that was held this weekend in Veles. During this seminar the members of the academy had the opportunity to improve their knowledge of finances, accounting and how to successfully implement it into their business plans.
The seminar was organized in five sessions: Project Proposal Writing; Investments, Fixed and Variable Costs, Working Capital, Assets; Balance Sheet, Profit and Loss Projection; Break-even Analysis, Cash Flow Statement; Traditional vs Alternative ways of financing a startup.
Viktor Mitevski, Slavica Todorovska and Ksenija Popovic presented detailed financial plan and highlighted the key parts of every business plan. Along with the SWT Alumni team, the PhD. Makedonka Dimitrova presented the basic financial sources and elaborate in details the term “Bootstrapping”.
Through these five session the participants were trained to perform an independent financial plan for their businesses. They were also guided through the startup financial planning software which is developed by the SWTA team. The speakers also covered the topic of fund raising and alternative sources of seed funding in Macedonia.