Business plans are an imperative part of the underpinning of a business as they show outsiders exactly what a business aims to achieve, and exactly how to achieve it. The document records all of your goals, objectives, and passion, for your business into a clear and succinct plan that is credible to banks and lenders.
Without the terms and numbers, a business plan is only conceptual. One of the essential components of a business plan is the financial section. If you wish to obtain a bank loan or to convince investors to invest in your business – you need a feasible business plan. Compiling a financial forecast is important, even if you don’t plan on financing. In simple terms, the financial section of a business plan puts your business projections into numbers.
At The Accountancy Solutions, we can generate a realistic business plan that incorporates both enthusiasms with realism and contains a plausible forecast that is well balanced. Our experts have years of experience in working with businesses from a plethora of industries and know exactly how to analyse what your financial forecasts will be.
Profit and loss
Cash flow forecast
In your business plan, we’ll generally start with sales forecast by setting up a spreadsheet that projects your sales over three years. We’ll work with you to decide what templates work best for you and go from there. On top of that, we create an expense budget for you to understand the costs that it’ll take for you to reach your forecast sales. We will develop a cash flow forecast which will help you to see the physical incoming and outgoing of money. As one of the most important financial statements, we also undergo a break-even analysis to see when your business’s expenses line up with your service or sales volume.
In order to have an efficient and accurate business plan, you will need to carefully go through a few sections. If you’re seeking external funding, you’ll need to know how much capital your business will need. Within your business plan, you’ll also need to reassure your lenders with detailing the security you can offer them as well as how you plan on repaying any borrowings. As the most important aspect, you’ll need to explain your projected and current sources of income and revenue. It’s optional to include your own personal finances.
Analysing your financial forecast is vital to a business plan, but so is performing a risk analysis. It is considered good practice if you review any risks that your business may face. Risks can be anything from competitor actions, commercial issues, operation failures, to staff or weather risks. We’ll aid you in finding these risks as well as inform you of any contingencies and insurances that would cover those.
We will generate a business plan that is completely tailored to your objectives and offer you informative advice in areas that we believe need improvement. We understand that once a business plan is completed, it is a document that can be reused over and over for various purposes and for many years, so we strive to make it as succinct and professional as possible in order for it to start your business journey off on the right foot.
As financial experts, and through our years of experience, we know exactly what lenders and banks want to see in a business plan. So, we’ll do everything in our power to get you the loan that you need. We’ll provide you with a business plan that can show the business forecasts for the next three to five years, including a detailed first twelve-month forecast.
Our team of expert accountants strives to be in constant communication with you and reply promptly to any enquiries. We adhere to all the necessary laws and regulations whilst making sure that you pay the least amount of tax as possible. No matter what service you choose to hire us for, we will always work to a moral code of ethics and guarantee you complete confidentiality.
With our bountiful experience, we’re sure to find strategies that will ultimately increase your profit. Not everyone is a technology expert, and we understand that. So, we do our best to make sure that no matter what we’re doing – we’ll explain it to you in a way that you’re most comfortable with.