Financial Planning is the process of developing strategies to help you manage your financial affairs so you can build wealth, enjoy life and achieve financial security. As this may seem quite complicated process to many, we at BJK Accountants will be happy to translate this activity in more simple words and will ensure that you receive the best financial advice possible. Our expertise in this area will help you to make sure that you are fulfilling your life ambitions without having to worry about your finances.
In these recession times the financial planning process is a lot more important and it is therefore crucial that it is done correctly, as errors in projections and incorrect cost allocation may damage your business in the long run.
Our specially designed templates will ensure that your business receive accurate, complete and timely projections, which will help you to prepare for any uncertainties that may come your way.
Most important planning tool is a BUSINESS PLAN
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. As the business plan is the stepping stone for your business it is important to leave it to the professionals. A good business plan will ensure that your business can attract sufficient finance to turn your dreams into reality. It is a decision making tool and should contain all the information needed to decide whether or not to pursue a goal.
Financial institutions will use the business plan as the basis when determining whether the finance should be advanced to the entity or not.
Typical structure for a business plan for a start up venture is as follows:
cover page and table of contents
business environment analysis
attachments and milestones
Despite the fact that banks recently have increased the volume of documentation required to advance the finance, we have managed to help our clients to acquire additional funds from the financial institutions. We work closely with the banks on behalf of our clients and by preparing cash flow statements and projections ensure that the bank’s requirements are met successfully.