FINANCIAL PLAN

Financial Plan is referred to the ways a business obtains money to finance its operations, projects, or expansion. Essentially, it's where the money comes from to support the business. It acts as a guide for planning, budgeting, and decisions and usually covers important topics including project costs, cash flow control, profit estimate, and finances.

•  Budgeting: Calculating how much supplies, labor, machinery, and overhead will cost. Making sure the business has enough money on hand to cover costs over course of the project is known as cash flow management.

•  Profit Projections: Predicting the income and financial success of current and future projects.

• Funding Plan: Identifying potential funding sources, such as loans or investment funds.

• Saving up money for unexpected situations or excess costs is known as a contingency plan.

•  Monitoring and Evaluation: Keeping careful attention on financial results and making necessary revisions to the strategy.