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Starts at $9.98 per contact hour
Min. Hours $$/Hr
4 hours $8.98
8 hours $7.98
12 hours $6.98
20 hours $5.98
30 hours $4.98

Financing Your Business in Health and Wellness

1.5 Contact Hours
Target Audience: Nurses, healthcare professionals, and interested individuals
Purpose/Goal: The outcome of this course is for the learner to describe the financial issues facing new or growing businesses, including types of startup expenses, crucial financial statements for business success, common types of financing available for businesses, and key investment ratios used in business.
$14.97
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Creating a successful business means understanding the world of finance. Although this world is often intimidating, financial literacy is a critical skill for entrepreneurs. Many businesses fail because of a lack of adequate funding, so this remains one of the biggest challenges faced by entrepreneurs when starting, operating, and expanding their business. Understanding your business’ financing needs and knowing the range of financing options available to you will improve your odds of success.

Upon completion of the course, you will be able to do the following:

  • Describe the types of startup costs and essential expenses needed by a business.
  • Identify key factors to consider when determining funding needs of a business.
  • Compare and contrast the key financial statements (balance sheet, income statement, and cash flow analysis).
  • Explain the purpose of assumption sheets and breakeven analyses.
  • Discuss common types of financing.
  • Explain key investment ratios used in business.

One of the biggest challenges faced by entrepreneurs in the early stages of operating or expanding a business is finding adequate funding to get started and maintaining enough funds to meet all their obligations and invest in the future. This challenge is also faced by fast-growing, successful companies that may struggle with cash flow problems (Parks, 2006).

Building a successful business requires financing (“capital”). When starting, managing, or growing your business, you will improve your odds of success by understanding your financing needs and all of the options available to you. Understanding what funding sources are best for your business, knowing how to find these sources, and doing what it takes to get financed can save you a lot of time and frustration (Walter, 2004).

The types of financing options available to you and your business depend on the current stage of your business in its life cycle. There are four stages in a typical business life cycle (Walter, 2004):

  • Development and start-up—At this stage, priorities include raising enough money to finish research and development on products and services, creating a viable business infrastructure, and limiting “out-of-pocket” expenses.
  • Operating or growth—During this stage, businesses need financing to sustain growth and strategic plans, expand the business, and ensure there is sufficient cash flow for day-to-day operations.
  • Maturity—The maturity phase of a business is characterized by lower growth rates, supporting mergers and acquisitions, and reducing need for outside capital to sustain operations.
  • Liquidity or decline—This phase often involves financing in preparation to sell the business. Founders, managers, and important investors are seeking liquidity to recoup their investment.

Complete the course post exam (CE Test) with a score of 80% or greater. Complete all fields of the course evaluation form. Certificate of Completion is provided once the course post exam is passed per criteria above.

  • American Board of Managed Care Nursing
  • ANCC - American Nurses Credentialing Center
  • AOTA - American Occupational Therapy Association
  • ASWB - Association of Social Work Boards
  • California Board of Behavioral Sciences
  • California Board of Registered Nursing
  • California Department of Health, Aid, and Technician Certification Section
  • District of Columbia Board of Nursing
  • Florida Board of Nursing
  • Florida Board of Nursing - Certified Nursing Assistants
  • Florida Board of Respiratory Care
  • Florida Council of Dietetics and Nutrition
  • Florida Council of Licensed Midwifery
  • NAADAC - The National Association of Alcohol and Drug Abuse Counselors
  • NCBTMB -National Certification Board for Therapeutic Massage & Bodywork
  • Florida Board of Massage Therapists
AOTA CEUs:

0.15

Practice Level:

Beginner/Introductory

Content Focus:

Professional Issues

Course Expires:

June 10, 2020

Instructor(s):
  • Cyndie Koopsen, RN, BSN, MBA, HNB-BC, RN-BC, HWNC-BC
  • Caroline Young, MPH
Jurisdictional Requirements:

Continuing education (CE) licensing requirements vary by jurisdiction, are not well defined, and may change. These CE requirements may vary in terms of the number of hours required to the types of courses that must be taken. ALLEGRA Learning Solutions, LLC recommends you contact your licensing board or accrediting organization for the latest continuing education requirements of your state or territory. Compliance with CE requirements is the responsibility of the individual health care provider. Health care providers must understand the CE requirements in their jurisdictions, and be sure they are up-to-date on any rule changes that affect their license. For further information, please see our Accreditation Information.

Accommodations for Disabilities:

Every effort will be made to accommodate your special needs. To request accommodations, please contact us.

Conflicts of Interest and Relevant Financial Relationships:

The authors/planning committee members have no conflicts of interests or relevant financial relationships to declare relevant to this activity.

Commercial Support:

No commercial support has been received for this activity.

Non-endorsement of products:

Accreditation refers to recognition of continuing nursing education only and does not imply ALLEGRA Learning Solutions, LLC approval or endorsement of any commercial product.

Off-label Use of Products:

None of the authors intend to discuss off-label uses of drugs, mechanical devices, biologics, or diagnostics not approved by the FDA for use in the United States.

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