Financial planning

With any period of business growth there is always a danger of over trading and financial planning is vital. Basic financial principles, including cash flow forecasting, are essential.

If the revised business plan identifies a potential funding requirement this should be prepared well in advance. Consider the various finance options and decide which is the most appropriate. The options include:-

• overdraft
• loan
• mortgage
• selling an interest to a partner
• share issue for your company
• hire purchase
• leasing
• debt factoring
• assistance from Government-backed schemes and from regional authorities
• venture capital

Please refer to the section “Obtaining Finance” for more details.