Sidney Cityscape

Advice



Do you have a business plan and financial forecast?


A business plan and financial forecast are vital for any business in any industry. You should be writing one each financial year. But if you've never set one up before, then it can be daunting. You might not know where to start or what all the fuss is about.


If you are operating your business without a plan then you are flying blind.


A business plan provides you the blueprint you need so you know what you need to do, by when and by who and importantly it provides the measures you need for success.


Don't worry, at AXIS we are here to help you.


Read on for eight reasons you need to set up a business plan and financial forecast.


1. Allocation of business funds


Businesses have limited or scarce funds to allocate across its operations, marketing activities and investments.


Following a professional approach to setting your forecasts and budgets will ensure funds are allocated according to your financial position, with a view to investing in activities that will provide your business with the greatest returns.


You can also single out any that will be an improvement in efficiency and productivity. Or increase your market penetration. Even the biggest, most well-funded corporations have a prioritising process for their spending.


2. Keep Up With Your Industry Trends