The idea can be as good as it is. If it doesn’t pay off, it won’t be able to stay on the market sooner or later. To ensure this, Ernst & Young (EY) supports our STAGE UP participants in their financial planning.
‘False forecasts’ is the most frequently cited reason for a corporate life cycle coming to an end. This includes in particular significant lower sales, late release of products, higher need of capital and strong competitors. This is how Cristina Zingg and Fabio Studer open the workshop ‘Financial Planning’ and emphasize the relevance of a carefully prepared budget and cash flow planning. The two are Audit Services Managers at our esteemed partner Ernst & Young (EY) and introduce our STAGE UP participants to the world of financial management. EY has supported the STAGE UP competition from the beginning. Promoting entrepreneurial initiatives is just as important to EY as it is to us. The workshop participants receive an Excel template for the financial planning of their own business idea.
«If everything is green in your Excel, at least from a mathematical point of view it makes sense to work further on your business»,
says Fabio Studer. Fabio and Cristina then explain in detail how financial planning is structured, what the correlations are between revenue and cash flow and when the break-even is reached. After the theoretical input, the participants have the opportunity to ask the experts questions. Cristina and Fabio are actively offering a hand: «If you have specific questions about the financial planning of your business, feel free to contact us. We are happy to help!»
‘Financial Planning’ is one of the workshops that we offer to STAGE UP participants. With the help of these workshops and an individual coaching, the youngpreneurs have developed their business idea in the last few weeks. Who will qualify for the top 5? We’ll know in two weeks.