Updating Your Business Plan for 2021 Part 8 - Financial History & Analysis
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Updating Your Business Plan for 2021 Part 1 - Getting Started
Updating Your Business Plan for 2021 Part 2 - Executive Summary
Updating Your Business Plan for 2021 Part 3 - Company Description
Updating Your Business Plan for 2021 Part 4 - Products and Services
Updating Your Business Plan for 2021 Part 5 - Marketing Plan
Updating Your Business Plan for 2021 Part 6 - Operational Plan
Updating Your Business Plan for 2021 Part 7 - Management and Organization
Reviewing your business’s financial history will help you make more accurate financial projections. Financing and investor resources consider your firm’s financial history to assess prospects for future growth.
Show information from the past three years’ financial statements as well as the current year-to-date financial statements. Putting all of this financial information into one spreadsheet makes it easy to compare and analyze the financial history. Also enter industry average ratios for comparison.
Include the firm’s year-end balance sheets, operating statements and business tax returns for the past three years, along with the most current balance sheet and operating statement.
The Debt Schedule table gives in-depth information not usually included in the financial statements themselves. Include a debt schedule with the following columns for each note payable on your most recent balance sheet.