To prepare a financial plan. If you do not have a business of your
own or one you are planning to start, use one of the 'Example businesses'.
- Outline your key financial goals and objectives.
- Calculate your business establishment costs and
working capital required to operate your business.
- Outline your production costs and pricing
strategies. Calculate the contribution margins required for
different product lines to achieve your financial goals (profit projections).
- Prepare an annual budget for your business. This
budget should include cashflow estimates. Key performance indicators
and targets should also be included, as well as an estimate of some
- Outline your plan for finance sourcing. What credit
products will you use, if any? What documents will you need to support
your application for finance? Prepare the documents you require to
apply for finance.
for information that will help you complete the
for some practical experience
in preparing financial plans.
Discuss your financial plan with other
learners and compare different strategies to identify an
approach that suits your business.