DAYTON, OHIO (WDTN) – The “Great Resignation” led to a national small business boom. Eric Gagliano of River Valley Credit Union shared tips on how to start your own business.
Gagliano said whether or not the business needs a loan, it’s important to focus on financials. If you’re a start-up company, River Valley looks for 3 years of financial pro forma – a financial estimate or projection of what your company can expect to experience.
Consider these points:
- Expected expenses (utilities, physical location, product development or production, etc)
- Anticipated Revenue
- Product pricing
- How you will be paid?
- What are your company’s financial goals?
- The more detailed the better – get estimates where possible.
*This segment is sponsored by River Valley Credit Union*