2023, Vol. 4, Issue 2, Part C
Some essentials for startups relating to finance and cost management
Author(s): Dr. Sangeeta Porwal
Abstract: There has been a paradigm shift in doing business because of the coronavirus epidemic, and the war between Ukraine and Russia. War-like tensions are persisting and germinating among other countries. Besides initiatives like Standup India, Make in India, Vocal for local and global, One District One Product, Skill India, Ease of living, etc., have given impetus to youth and other industrialists to start their own. All these, taken together, have given birth to various start-ups, and some have become unicorns. This paper aims to provide critical points that may be useful to venture capitalists, researchers, and academicians. The paper focuses on the finance area, more specifically on cash inflows and outflows, raising the finance and explaining some tools and techniques relating to the cost management relevant to the startups (namely Activity-based costing, Zero-based budgeting, the importance of classification of cost, and Break-even point. The paper provides some suggestions on the relevance of proper budgeting, the relevance of cash inflows and outflows, and emphasis on using these costing techniques by the owners of the start-ups, Proper classification of costs between fixed and variable costs, and using the break-even analysis for effective management of startups.
DOI: 10.22271/27084515.2023.v4.i2c.223
Pages: 272-275 | Views: 218 | Downloads: 81
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How to cite this article:
Dr. Sangeeta Porwal. Some essentials for startups relating to finance and cost management. Asian J Manage Commerce 2023;4(2):272-275. DOI: 10.22271/27084515.2023.v4.i2c.223
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