Part C: Financial Plan
Completing this section will allow you and your Small Business advisor to determine how your company will need to be structured financially in order to achieve your business objectives. Please attach copies of accountant prepared statements, if available. If not available, please fill out the following forms. We've provided an instruction page at the beginning of each form.
Balance Sheet
A Balance Sheet is a financial "snapshot" of your business at a given point in time. It outlines assets, liabilities, and the amount of shareholders' equity invested in the business. Using your Balance Sheet information, you and your Account Manager can apply certain yardsticks to measure the financial health of your business.
Download Balance Sheet (900 kb)
Income Statement
To ensure the success of your business, you need to know how your revenues stack up against your business expenses. With a realistic picture of these financial elements, you'll know how profitable you can expect your business to be.
Download Income Statement (200 kb)
Cash Flow Forecast
A Cash Flow Forecast is one of the most important elements of your business planning. It allows you to estimate the flow of your revenues and expenditures and adjust your business strategies to fit those patterns. However, this forecast can also be one of the more difficult documents to prepare so you might want to ask your accountant help.
When you prepare your Cash Flow Forecast, make sure it's realistic. Estimate your cash receipts and cash disbursements as accurately as possible.
Download Cash Flow Forecast (200 kb)
Personal Financial Statement
Your personal finances are important to the success of your business. By completing your Personal Financial Statement, you formulate a clear picture of your personal net worth. Your net worth may be useful in indicating what personal financial guarantees you can offer for business financing, or whether you can contribute personal assets to your business. Your Personal Financial Statement also shows your annual spending patterns - a kind of "mini-budget". This allows you to determine whether your business is adequately meeting your personal needs.
Please prepare a separate Personal Financial Statement for each owner of the business.
Download Personal Financial Statement (200 kb)
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