Webinar Recordings : Writing a Business Plan & Cash Flow Forecast
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These two webinars, organised to support those applying for North Yorkshire Council’s Small Business Grant, look at how to write a Business Plan and Cashflow Forecast.
These 1-hour webinars were delivered by Enterprise Cube who have worked with the Growth Hub over the past two years to support startup businesses through their Strive Live Startup Incubator, supporting over 150 early stage businesses in our region.
Writing a Business Plan
All good businesses start with a good idea. And turning that idea into a business requires a plan. Even if you don’t need to apply for funding, it is still important to write up a business plan.
A good business plan fills two needs. Firstly, it gives the business owner a space to write down their aims for the business, as well as the tactics and strategies they will employ to get there. Secondly, if you are seeking funding, a plan gives the finance provider that the business owner has thought about how they will deliver a sustainable, successful business, and is not being complacent (find out more in our guide to business plans here)
The session covers:
- Planning for your business vs Writing a Business Plan
- Top reasons to write a business plan
- What goes in a business plan
- Tips for writing your business plan
- Different styles of business plan, including useful templates
Writing a Cashflow Forecast
Predicting your revenue forecast and expenses when starting a business is one of the most important, yet neglected, areas of business planning. Many consider that if you have no basis of being accurate, what is the point in being theoretical?
Nonetheless, investors typically expect a clear understanding of sales targets before committing funds. Reliable financial data not only aids in decision-making but also enhances the overall management of the business. (find out more in our guide on revenue forecasting here)
The session covers:
- What is a cash flow forecast?
- Why are they useful?
- Cash flows vs. business plans vs. reality
- How to create your first cash flow forecast, including useful templates
- Strategies for improving your cash flow forecast
