As a business owner, it’s only natural that you’ll want to be able to predict where your business might be within the next few years. This glimpse into the future can be envisioned through forecasts, which will give you an estimation of where your finances might reach if you hit certain milestones over time.
Why does my business need cashflow forecasts?
Business forecasts are used in all stages of the business lifecycle, and can impact on grant funding, asset finance, equity finance, banking and investor exit routes. Not only can forecasts help you get a better view of your future finances, but they can also help you estimate future cashflow requirements and support your plans and budgeting process for the following year.
What are the benefits of cashflow forecasting?
Profit and cashflow forecasts are hugely beneficial to your business’s budgeting plans, whether this is for the following year or further into the future. These budgets can help you prepare for future growth and development and help you to control costs more accurately.
Forecasts can also help support your business in seeking finance for growth and development. Investors will want to know how your business may perform in the future, as they will want to be confident that they’ve made the right decision.
How Edwards Accountants can help
We use a range of analysis methods, backed up by our extensive experience within the industry, to provide robust financial and cashflow forecasts to help inform your business plan and budget.
Not only this, but we can also provide a range of accountancy services to support your business, including assistance with business plans, share option schemes, patent box and grant assurance.
To find out more about accountancy services in the West Midlands, please contact our team today.
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