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(p. 22) Startup Finances 

(p. 22) Startup Finances
Chapter:
(p. 22) Startup Finances
Author(s):

Chris E. Stout

and Grace Wang

DOI:
10.1093/med:psych/9780190272166.003.0003
Page of

date: 20 September 2017

This chapter discusses the costs and approaches to meeting the expenses involved in starting a private practice. Practical aspects of business management and budgeting are examined. These include what items to account for (e.g., rent, equipment, insurance, fees, retirement), differences in costs depending on the nature of one’s practice, reflections and advice from other entrepreneurs, and assessment of business viability. Both traditional (e.g., loans, personal savings, help from family or friends) and nontraditional (e.g., crowd funding) financing options are discussed. Essential and practical information about lender evaluation and the loan application process is offered as well.

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