You are an expert when it comes to your small business. There is no question. You have learned what it takes for success and for mitigating problems that naturally will occur with entrepreneurship. But, perhaps when it comes to submitting your business’ cash flow projections with your loan application you feel a little hesitant. Let us first tell you that you are definitely not alone. Not one bit.
There is really good news to go with this. The SBA has posted some simple ways to understand your business’ cash flow process. Not sure what a cash flow spreadsheet looks like? No problem. SCORE offers small businesses like yours a wide variety of free downloadable templates for you to use. Click here to go there now. Forcasting is not just a weather related term. In your business’ projections you will be required to forcast your sales and expenses. Tim Berry, a business planning pro has simplified the process for you on his blog. Click here for his step-by-step guide.
“So where do you start? The first thing to know is that your projections don’t have to be – and probably never will be – 100 percent accurate. It’s one of the reasons many business owners hesitate working through this process. But it is possible to simplify the process.”
Read Caron Beesley’s full article titled Projecting Your Business Cash Flow, Made Simple right here on the SBA’s website.