The financial analysis of a company is a crucial part of every business venture. It analyses the financial health of a company – finds both strengths and weaknesses, evaluates its performance, assesses the success rate of given tasks and provides important feedback. Thanks to the FA you will be able to decide on the matters of financial management of the company more easily. Not only that, the FA may be a requirement when filing for a business loan, or it might be reuqired when filing for EU subsidies.
The business, or enterpreneur/commercial plan is a structured document in which each individual, consecutive step is outlined (including the potential risks). These steps are what is required for your company to successfully develop. Rookie entrepreneurs will use it as a guide for developing their business goals, veteran businessmen will gather from it information important for future company development.
Proper business plan should include:
- getting acquainted with the bussiness aim or project-set goals
- product/service description + its customer benefits
- the customer’s profile to whom the product is intended, and where to find it
- how to acquire money from a customer
- budget + other resources (people, property)
- costs, revenues and profit plan
- the analysis of potential dangers, weaknesses and strengths
The result of every business plan should be the decision whether the given project has any chance of succeeding, how much will it cost and chiefly, how much money will it yield.