The lack of planning and control of cash resources is the reason often given for the failure of many businesses. However, good forecasting can help reduce the business risk.
A good business plan is a guide and management tool for an entrepreneur, a source of information for financial institutions and potential investors to make financial decisions. A well-designed and well-thought-out business plan is the basis for a successful business by providing a significant advantage over competitors.
An entrepreneur needs a business plan both – when setting up a company and when applying for financing or refinancing of existing activities (e.g. to expand, launch a new product/service or attract investors). Crises (e.g. Covid-19) influences are guiding businesses to consider state support measures, which requires both a comprehensive overview of the company’s situation as well as realistic financial projections.
Grant Thornton Baltic specialists prepare financial projections, forecasts and budgets, as well as feasibility studies and financial analyzes. Based on your goals and objectives, we develop business plans that meet international standards.
- The business plan provides a meaningful overview of your operating activities, describes the strategy and action plan taking into account the specifics of your business, which also includes an analysis of opportunities and risks.
- We prepare business-, investment-, financing-, cash flow and balance sheet projections, which provide a reliable and realistic overview of the company’s plans.
- We describe the measures to achieve the objectives defined in the business plan, expected demand, capital needs, investment and sales strategies, market strategies and the planned organizational restructuring.
- We advise and coordinate communication with financial institutions and/or investors.
Where necessary, we involve our legal and tax advisers, accounting and auditing specialists to prepare a business plan that creates value for the company.