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2 | Guide to your Financial Planning Template by TERN | |||||||
3 | What is this Guide? | This tool cover key parts of financial planning for your business. It has 6 linked tools, each building on the last. | ||||||
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5 | Tool | Quick Links | What to use each tool for | Why it's Useful & Important | Explainer video | Completion Status | ||
6 | 1 Personal Budget | Go to 'Personal Necessity Budget' | Helps you see how much personal money you need each month. | To know if your business income will cover your personal needs. | 🎞️▶️Watch explainer video | not started | ||
7 | 2 Start Up Budget | Go to 'startup budget' | Lists costs for starting or growing your business. | To help you plan for equipment, staff, and other startup costs. | 🎞️▶️Watch explainer video | not started | ||
8 | 3 Pricing, Costing + Profit | Go to 'Pricing' | Sets the right price for your product or service. | Pricing too high or too low can affect your profits and customers. | 🎞️▶️Watch explainer video | not started | ||
9 | 4 Sales Forecast | Go to 'Sales Forecast' | Estimates monthly sales for the next year. | Helps you predict future sales and set goals. | 🎞️▶️Watch explainer video | not started | ||
10 | 5 Cash Flow Forecast | Go to 'Cashflow' | Tracks money coming in and going out each month. | Gives a clear view of your finances over the next year. | N/A | not started | ||
11 | 6 Accounting tracker | Go to 'Accounting tracker' | Records all your business expenses and income. | Helps you stay organized and track your business finances easily. | 🎞️▶️Watch explainer video | not started | ||
12 | 7 Loan Ask | Go to 'Loan Ask' | Calculates how much money you might need to borrow. | Helps you prepare for loan requests and understand repayment impact on cash flow. | N/A | not started | ||
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14 | Step by step | Take it one step at a time! Each sheet supports the others, and you may already have much of the needed info. | ||||||
15 | Why is this important? | - Completing this tool will give you a strong financial plan. - It shows if your business model is viable and financially sustainable. - You can track finances for accounting and financial reporting duties. - If you’re already trading, we recommend you get an accountant! - Completing this sheet is essential if you plan to apply for a loan. Lenders need proof your business is financially sound to consider a loan. | ||||||
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