On Friday, March 17th, ARIS start-ups had the opportunity to attend the training session “Effective Business Plan & Financial Projections”, where they obtained an understanding of what makes an effective business plan with an emphasis on the financial projections section.
It is common knowledge in the entrepreneurial world that a well-written business plan is important for a company’s viability and growth. Focusing on financial projections, they are an essential component of any business plan, as they provide an unbiased view of a company’s economic status and the path it will likely take in the future and establish goals by developing intentional commitments for long-term success…
The financial projections section of the business plan is especially important for potential investors to:
- – Understand the long-term plans and intentions of the company
- – Analyse the effect of exceeding or failing to reach the forecasts
- – Assess time between making the investment & income being derived
On the other hand financial projections are also crucial for the entrepreneur to:
- – Plan and budget
- – Monitor the company’s performance
- – Reassess the Business model on a continuous basis
Andreas Razis, Manager at Deloitte’s Financial Advisory, who facilitated the workshop, provided valuable advice and insights on how to write an effective business plan and forecast financial projections.
