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Projecting your balance sheet can be quite a complex accounting problem, but that does not mean you need to be a professional accountant to do it or to benefit from the exercise. The desired result is not a perfect forecast, but rather a thoughtful plan detailing what additional resources will be needed by the company, where they will be needed, and how they will be financed.

A balance sheet shows the financial position of your company at a single moment in time; in this case, it will be as of opening day. Use your Startup Expenses spreadsheet to get the basic data for the balance sheet.

Nearly everyone who has ever started a business has underestimated the costs, and then faced the danger of running with inadequate capital reserves. The key to avoiding this pitfall is to adopt a rigorous approach to your research and planning. Our Startup Expenses worksheet will lead you through the process

Start-Up ExpensesExpense

Download this financial projections Excel template to calculate your startup expenses, payroll costs, sales forecast, cash flow, income statement, balance sheet, break-even analysis, financial ratios, cost of goods sold, amortization and depreciation for your small business.

Financial Projections Template

The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. It contains more than 150 questions divided into several sections. Work through the sections in any order that you like, except forthe Executive Summary, which should be done last. Skip any questions that do not apply to your type of business. When you are finished writing your first draft, you’ll have a collection of small essays on the various topics of the business plan. Then you’ll want to edit them into a smooth‐flowing narrative.

 

 

The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.

A business plan outline, created by SBA.  Contains suggestions on basic form, a review of information that should be included plus tips and techniques.

A guide to creating your business plan.

 

The SCORE Financial Projection template for a NEW BUSINESS s a dynamic series of  28 worksheets including financial diagnostics and summary graphs.  It is recommended you meet with a SCORE mentor for insight and analysis. Updated 6/2015

The complete set of 28 worksheets for the Financial Projection Template

About the Author

The template was created by SCORE Portland, Maine.  Editors include Alan Shaver, Ron Dillon and Doug Collins.  2016 all rights reserved 5/7/2016

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