Your business hopes and aspirations don’t mean anything if you can’t justify your business with good figures on the bottom line. You do this in a distinct section of your business plan for financial forecasts and statements. The financial section of a business plan is one of the most essential components of the plan, as you will need it if you have any hope of winning over investors or obtaining a bank loan. Even if you don’t need financing, you should compile a financial forecast in order to simply be successful in steering your business.
Knowing where your money is going is what will tell you whether the business will be viable or whether you are wasting your time.
Business Planning helps you Know where your Money is Going