Bribery of Local Government Politicians Pauperization of Pensioners and the Middle Class Although the modern system of local and regional government can be directly traced back to Babylon, when in King Nebuchadnezzar's time B. City Of London Corporation The City of London Corporation is a Masonic, private, independent, sovereign state occupying approximately one square mile within the heart of the greater London area inside the old Roman walls of London.
This information helps you determine how much financing your business needs and helps outsiders determine whether lending you money or investing in your business is a wise use of their funds.
Financiers want and often require entrepreneurs to put their own funds in the venture, and the greater the portion you commit relative to your net worththe better. You must also determine which type of financing would be most suitable for your business. Banks offer several types of loans to businesses that do not present too much risk.
Do you need a short-term working capital loan to increase your inventory? Do you want a transaction loan, with which you receive all the money at once, or a line of credit that lets you draw on funds as you need them?
Do you need an intermediate-term loan to purchase larger assets such as real estate or equipment? Or are you a high-risk business that needs to jump through the extra hoops required to secure a government-backed Small Business Administration loan?
Structuring Your Financial Plan Begin your financial plan with information on where your firm stands financially at the end of the most recent quarter what its financial situation has looked like historically.
Then lay out your goals with financial projections for the next three to five years, depending on what lenders or investors have asked for. These are called "pro forma" statements, and they are based on your assumptions about how your business will perform.
Your one-year projections should be broken down by month, while your more distant projections can be broken down by year. If your business is new, your statements will be speculative, but you can make them realistic by basing them on the published financial statements of existing businesses similar to yours.
Three Key Financial Statements Your financial plan should include three key financial statements: Lenders and investors want to know what kind of numbers your company is working with and whether your company is profitable or expects to be soon.
Within each category are numerous subcategories. For example, your assets will include cash, accounts receivable, inventory and equipment. Your liabilities will include accounts payable, wages and salaries, taxes, rent and utilities, and loan balances.
How much will these expenses be, and how often will you need to pay them?
Will you have trade credit, and how long will you have to pay your suppliers? Your financial statements should show both a long- and short-term vision for your business.
In business plans, three-year and five-year projections are considered long term, and your plan will be expected to cover at least three years. Your projections should be neither overly optimistic best-case scenarios, nor overly cautious worst-case scenarios, but realistic in-between projections that you can support.
Lenders may want your statements presented in a certain way, so ask before you draw them up.
A bank, for example, may want to see monthly projections for the first year, quarterly projections for the second year and annual projections for the third year.Whatever others may say to the contrary, a business plan should never be a work of fiction.
At the end of the day, you will only be fooling yourself because lenders, for whom the fiction is usually generated, rarely lose!
Here are ten headings you might use when writing or rewriting your business. Aug 20, · For more details on what to include in your business plan, check out our detailed business plan outline, download a business plan template in Word format, or read through our library of sample business plans so you can see how other businesses have structured their plans and how they describe their business strategy/5().
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