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 develop realistic projections for your business's likely expenses and 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 a financial plan that outlines your financial steps over 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 will help ensure that you have ample cash on hand to deal with your short-term financial obligations and will give you the perspective you need to achieve long-term financial success.
Financial projections are more precise than typical estimates. While you may already project your cash flow, most businesses do not project financial position and net worth.
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, generating financial statements that allow you to accurately budget and forecast and assisting with monthly accounting.
At Botwinick & Company, LLC, we'll put our insight to work to provide you with the assistance you need to help ensure long-term success.