Financial projections can often seem daunting when embarking on a business venture. In fact, they can be so intimidating that many individuals prefer to delay addressing them until the need arises. In our upcoming webinar, we will explore the following key topics:
1. Assessing the viability of your business concept.
2. Calculating the break-even point for sales volume.
3. Creating the financial projections necessary for securing an SBA loan.
Getting Started
Download the Google sheet and follow along here.
You can view only. [ File > Download > Make a Copy ] so that you can create your own spreadsheet for you to keep and update.
or
Download the Excel template here.
Startup Phase
Financial projections are invaluable in answering various crucial startup questions, such as:- Will my business idea prove successful and feasible?
- What is an appropriate compensation for myself?
- What sales volume is required to attain profitability?
- How much capital is needed to launch the business?
Established Businesses
Furthermore, these financial projections are essential not only for startups but also for established businesses, especially when seeking financing. Even if you've been in operation for a considerable period, expanding your business often necessitates a well-thought-out plan, much like the initial startup phase. Lenders are keen on understanding the amount required and how you intend to allocate it, as this information is critical for assessing repayment strategies.Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.
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