Hello,
Being a fairly new business owner I wanted to get some advice - I have recently decided to use an invoice financing company to support my business in payrolling contractors. (I run a recruitment agency)
As part of this I need to produce a business plan with a full set of financials attached to it, (Cashflow forecast and a P&L forecast).
The part of the business plan that needs me to talk about the company, the vision, my background and market research ect ect I’m fine with, however the financial part I’m a little unsure about.
Firstly I’ve been told by a number of “commercial finance” professionals that I need to get my accountant to produce my financials for me however I’m not sure what I should be paying my accountant to do this for me? Any advice?
Secondly I’ve been onto Google and typed in “Cashflow forecast” and a number of very good examples come up, Could I not just work my own forecast into one of these and use them? I’ve been told that in today’s market Banks are being very strict on lending money and therefore professional forecasts are taken a lot more serious than something I’ve cooked up myself.
So basically what I’m trying to find out is A. Should I do the financials myself or get my accountant to do them? and B. If I get my accountant to do them what kind of costs should we be talking about for an accountant to produce a 12 month forecast for me (Cashflow & P&L)?
Would like to hear from accountants and business owners that have had to go through a similar situation –
Regards
Adam Eld
Being a fairly new business owner I wanted to get some advice - I have recently decided to use an invoice financing company to support my business in payrolling contractors. (I run a recruitment agency)
As part of this I need to produce a business plan with a full set of financials attached to it, (Cashflow forecast and a P&L forecast).
The part of the business plan that needs me to talk about the company, the vision, my background and market research ect ect I’m fine with, however the financial part I’m a little unsure about.
Firstly I’ve been told by a number of “commercial finance” professionals that I need to get my accountant to produce my financials for me however I’m not sure what I should be paying my accountant to do this for me? Any advice?
Secondly I’ve been onto Google and typed in “Cashflow forecast” and a number of very good examples come up, Could I not just work my own forecast into one of these and use them? I’ve been told that in today’s market Banks are being very strict on lending money and therefore professional forecasts are taken a lot more serious than something I’ve cooked up myself.
So basically what I’m trying to find out is A. Should I do the financials myself or get my accountant to do them? and B. If I get my accountant to do them what kind of costs should we be talking about for an accountant to produce a 12 month forecast for me (Cashflow & P&L)?
Would like to hear from accountants and business owners that have had to go through a similar situation –
Regards
Adam Eld