Free Online Course in International Business

Task 6

Develop a financial plan to establish whether internal/external international trade financing is required.

Introduction

Financial planning is necessary for all businesses, not just international businesses. Financial planning goes beyond the obvious internal needs of the business and extends to the external environment as well. Good financial planning will demonstrate to banks, investors and other external sources your knowledge of the organization. Establishing this level of confidence with these external entities will enable you to raise capital and get financing. International trade is complicated because of the additional influencing factors such as available information on suppliers or buyers, transportation costs, insurance and currency exchange risks, to name but a few. Planning allows you to project, evaluate, and review these variables to reach a reasonable conclusion about how to proceed. To understand fully the financial plan and all of the terminology associated with financial documents, you will need to take an accounting class or two. In this module, you will be introduced to the

• key components of a financial plan
• key financial ratios
• key financial resources: the Ex Im Bank, SBA, private banks and non bank private sector lenders required to develop a financial plan
• advantages and disadvantages of each resource

An attachment has been included that describes the components of cost. Since you will be looking at financial statements in the activity, this information will be helpful in answering some questions you may have. Two activities have been provided for this module as well. The first activity is a project which will need four weeks minimum to complete and could be used in a full semester class. The second activity is a much shorter internet research activity which may be more appropriate for a CGBP review course or overview.

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