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.
BUSINESS PLANS : WHAT TO LOOK FOR
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.
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.