Do you need to clearly define your direction and track your business progress? Are you looking to apply for financing? Do you want to improve your business's financial situation?
Financial planning can help you keep your business growing profitably. It also increases your ability to foresee and plan for potential problems, and to adapt to any changes that may arise.
What does a financial plan involve?
1. Personal financial situation of the owner(s):
- How much can and should you personally invest in your company?
- Will a mortgage or personal loan be necessary?
- What, realistically, should your monthly salary be?
2. Business income statement:
- Includes sales forecasts, costs of goods sold, fixed and variable expenses (salaries, advertising, rent, interest expenses), and profit.
- It should detail 3 scenarios—pessimistic, optimistic, and probable—to assess your business risks and opportunities for success.
3. Break-even analysis: determines at what point your business profits will equal expenses:
- How close to maximum capacity you will have to operate
- The level of sales you will need—and when can you expect to achieve profitability
- Which changes can have the greatest impact on your profitability
4. Cash flow statement: creates an accurate picture of your monthly financial needs and how much money you will need to operate or remain in business
How BDC can help you with your financial planning
Consultants will work with you to create accurate documentation to improve your finances. Your financial plan will help you determine:
- How much investment or financing you need, and when you need it
- When you can expect your business to be profitable
- Realistic sales targets
- Cost and profit estimates
- How to meet your short- and long-term obligations
- Strategies for managing and sustaining growth
- Ways of tracking your progress so you can adapt as necessary
Why choose BDC?
||Over 65 years working with SMEs to help grow their business |
||Our network of professional consultants are skilled at striking a balance between quality, price, efficiency and results|
||Promoting business self-sufficiency and success at an affordable cost|
|Money and more
||We combine financing and consulting that are adapted to help your business grow|
Answers to your questions
Looking for financing?
BDC can provide financing to get your projects off the ground and to ensure your long-term success.Learn more