4 Steps to Create a Financial Plan for Your Business

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A financial plan is a roadmap that helps businesses stay on track and achieve smart growth. Creating a financial plan for a small business is one of the most imperative steps to ensuring long-term success and financial viability of a company. It can help business owners understand if a business idea is sustainable, plan for best-and-worst case scenarios and it serves as a roadmap to financial success for both the business owner and potential investors. The four steps in a financial plan include: Building a strategic plan, creating financial projections, planning for contingencies, and monitoring and comparing goals.

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