Before taking any major step in developing your business, ensuring that the numbers add up is crucial. The two best tools you can use to plan for the future are budgeting and financial projections. Before embarking on a new investment, Botwinick & Company, LLC will draw up realistic projections for the likely expenses and the expected returns. By analyzing your business and projecting possible outcomes, we will help you anticipate the impact of your planned expansion and plan your budgets and cash flow accordingly.
A budget is your financial plan outlining your financial steps over some time, usually a quarter or a fiscal year. Your budget will include:
When you develop and maintain a budget for your business or household, you can track how your money is spent from month to month and year to year. This gives you a better understanding of how much cash you have for discretionary household spending, investments, and debt-reduction strategies. Ultimately, adhering to a budget should ensure that you have ample cash on hand to deal with your short-term financial obligations and give you the tools and perspective you need to achieve long-term financial success as well.
Your financial projections are more precise, estimates that show how much revenue your business will achieve. While you may project your cash flow, most businesses do not project financial position and net worth. Instead, the projection is generally reserved for estimating sales and revenue numbers and expenses such as buying supplies, payroll, and building costs.
Our Partners and professionals have many years of financial acumen and industry experience in various business sectors. Whether you are opening additional retail stores, purchasing new equipment, changing your financing arrangements, or expanding your operations into additional states, Botwinick & Company, LLC will help you every step of the way. We will partner with you and provide the assistance, insight, and support to help you reach your goals.
Whether you need help generating financial statements that allow you to accurately budget and forecast, or you need assistance with monthly accounting, we can help. Botwinick & Company, LLC will put our insight to work to provide you with the assistance you need to place your business on the path to success.