In this module you’ll explore:

  • How viability underpins the business model
  • The importance of knowing your numbers and what they can tell you about your business
  • Key financial terms you need to know
  • Three key financial statements

Start by downloading and saving the workbook (PDF 3.8MB) to your computer, to use throughout the module, capturing any key takeaways and completing the exercises at the end of each chapter.

Why understanding your finances matters

Learn why it's important to assess the financial viability of your business model in this video. You'll discover what your numbers can tell you about your business.

Jargon busting

Explore some key financial terms and do some jargon busting in our next video. Getting clarity on what these terms mean can be a big help in understanding your finances.

Financial statements

In this video we’ll introduce you to three key financial statements:

  1. Cashflow statements and forecasts
  2. Profit and loss statements
  3. Balance sheets

We’ll explain what they’re for and how to use them to manage your business finances.

Download our workbook

Understanding your Finances workbook (PDF 3.8MB)

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

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