Introducing the 241 course – Module 6

The final part of the 241 course is Module 6 titled “Legal and Finances“. This module makes legal and financial aspects clear for business establishment. It empowers entrepreneurs to decide based on risk and funding. It’s aligned with the goal of the 241 project – supporting migrants and refugees, especially women, through online training and entrepreneurship.

Explore various funding options:

  • Self-Funding: Use your own money, lowest risk.
  • Starters Loan: Borrow from a bank, with repayment risk.
  • Starters Subsidy: Get support from governments or NGOs without repayment if criteria met.
  • Crowdfunding/Saving Group: Get small investments from many, repayable.

Create a strong business plan. Outline revenue, timeframes, and costs. Plan for 1, 5, and 10 years, including funding needs.

Balance relationships with customers, suppliers, employees, and partners. Specify terms like liability, payment, delivery, and rights.

Accounting is vital. Track expenses, hours, and transparency. Use apps for records. Set aside taxes from payments.

Module 6 highlights smart financial management and legal understanding, giving you confidence for your entrepreneurial journey.

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