Figuring out money when starting a new business can be difficult, especially for first-time entrepreneurs. Apart from real estate costs, utility payments, renovations and stocking, there are a plethora of other fees that will need to be handled just to get doors open to the public. All of that down-time represents plenty of outgoing money but no incoming revenue, and balancing a financial plan on top of this precarious situation can be stressful for owners of all skill levels.

The key to balance in these situations is working with an accurate financial calculator. Coming up with ballpark figures can leave a significant shortfall if difficulties are encountered during the startup process, such as licensing issues or work slowdowns, and being reasonably prepared for the worst is a good strategy. However, overshooting on commercial loan applications could also wind up with denials or excessive bills.

Break it down nowOne solution many investors like to go with is splitting funding categories into sections, determining valuation for different resources before coming up with a total. Plenty of research is necessary, Tech Crunch wrote, to come up with realistic numbers regarding different necessities, as well as calculating for inflation. Everything from oil costs and transportation to product life cycles can make a difference in the final amount needed.

The Wall Street Journal provides an online resource that also includes calculations for existing assets, recurring costs and unanticipated overhead figures. Having a realistic idea of a business' expenses and viability from the start can help entrepreneurs keep a level gaze, as well as give more reassurance to apprehensive investors.

Work it outUnderstanding the market segment that a company appeals to is also a critical stage of the financial plan, as figuring how long it will take to pay back loans and other funds will have a lot to do with who is willing to purchase the goods or services. Forbes wrote that reviewing existing businesses and the revenue they usually receive, as well as surveying those in the community to sample interest in the products and services a business will offer can present an idea of whether it will be a lucrative endeavor or not.

If something goes wrong with a business startup, owners should remember there may be nobody else to turn to. Making the most thorough investigation possible and using a financial calculator can create a higher level of security.