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This section is based on our free business template and guide and steps through the various areas and information you need to include in your business plan.
The financial needs summary shows exactly how much money you need and how you intend to use it.
Your financial needs summary should consist of specific information – for instance, listing your proposed expenses into categories, such as operating expenses and capital needs.
Basically this statement is your shows your cash receipts minus your cash disbursements.
Another important part of your financial section is to clearly list your financial goals for your business.
The following reports will be part of your financial section: Profit and Loss (or income) statement – This statement lists your revenues and expenses and shows the profits or losses your business will experience for a given time period.
Business Plan Financial Summary
It can be a useful tool for planning and controlling expenses.
Executive Summary is typically a one-page summary of the entire business plan written after the plan is developed.
Within the overall outline of the business plan, the executive summary will follow the title page.
Controllable Expenses – Includes expense that may vary from month to month (salaries and other payroll expenses like benefits, any legal or accounting expenses, add in advertising and marketing expenses, office supplies, utilities, etc.) Fixed Expenses – Includes any expenses that remain the same each month (office rent, loan payments, depreciation, insurance, etc.) The combined expenses subtracted from your gross profit is your net profits or losses, before taxes.
Balance sheet – This statement includes your assets and your liabilities and shows the net worth of the business. Cash flow statement – This statement shows the amount of cash required to do business over a given period of time – the cash coming in to the business, as well as the cash going out.