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Financial Plan For Business

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By Dieter Abt at October 18 2018 00:29:36

Maybe it's okay as an assignment for an MBA class, but it would be just too confining and irrelevant for today's fast-paced business environment. Anyway, you're ready! You've thought about this business venture for a long time and talked it over with friends and everybody agrees it's a great idea. Best to strike while the iron is hot!

So, rather than looking around for an existing plan and then designing your own plan along the same lines, it would be a better idea to use software that allows you to create your own template.

Financial Plan - What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.

U.S. Census Bureau (census.gov): A source for a variety of useful statistics, especially the Economic Census that comes out every 5 years.

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