Every business needs cash to grow and develop. Some businesses are able to find enough cash from their own operations to take advantage of growth opportunities. Others might need to use external sources of finance, like a bank loan. How does a business make robust decisions about borrowing?
About the course
Whether you are managing a micro business, a small- or medium-sized company, or a large corporation, this free online course will guide you through the finance options to help you evaluate what type of funding is suitable for your business investment and how to develop a funding strategy to make the right decision about the type of borrowing for your business. You will consider the role of traditional and alternative finance options and learn to use financial statements to assess the financial health of a business. You will also learn to use cash flow forecasts to help you make decisions about managing a business’ finances.
Throughout the course, there are interviews with business experts and business managers, who will show you how to make successful financing decisions.
The Digital Economy: Finance For Business Growth is one of four courses from The Open University about the digital economy, designed to help experienced managers get to grips with today’s technology-enabled business environment.
The course has been developed by The Open University Business School – a pioneering institution that is triple accredited by AMBA, EQUIS and AACSB.
Holders of FutureLearn Certificates of Achievement for all four Digital Economy courses can earn 15 UK credits towards The Open University Business School’s flexible MBA by passing a linked Open University assessment module (requiring separate OU registration and fee).
What you will learn
By the end of this course you will be able to:
- Assess borrowing requirements and develop a strategy for your business finance needs
- Assess the risks, benefits and drawbacks of different types of debt
- Assess and critique finance available to your business, both traditional and newer sources, such as crowd funding
- Evaluate funding opportunities for business growth and development
- Apply and consider the role of traditional sources of finance, i.e. debt and equity, as well as alternative finance options, such as crowdfunding and peer-to-peer lending
- Record and learn to use financial statements to assess the financial health of a business
- Collect and learn to use a cash flow forecast to help you make decisions about managing business cash
- Investigate and find out how you can develop a funding strategy and make the right decision about the type of borrowing for your business
This course is intended for those with an interest in developing their financial skills to make robust decisions when managing business finance. The course does not require any previous experience of this subject.
About the instructor
Dr Jane Hughes is a lecturer in accounting and finance at the Open University. She is a professional accountant, with over twenty years of business experience in both corporate and financial services.
Starting date: 3 April, 2017
Duration: 4 weeks, 3 hours per week
Instructors: Jane Hughes
Institution: The Open University