Business plan for an start up company.
Any thoughts? My project is the start up business.© BrainMass Inc. brainmass.com June 3, 2020, 10:54 pm ad1c9bdddf
OK, it looks you need to do a Profit and Loss satement for this week. I'm going to include my comments after each question.Let's look at the section on helpful tips:
Helpful Questions for Getting Started for a Start-Up Business
? If you are projecting for a new business, to what existing businesses can you look for data? How can you ensure that your information sources are accurate and reliable?
I would look for competitor financial statements. If they are publicly traded, this information should be out there and give you a decent idea. Also, depending on your industry, trade publications and reports may also give you guidance on this.
? Where can you find the necessary documentation (monthly statements for the first year, quarterly analysis for the second and third year, and data to assist you in projections for the fourth and fifth years) for a competitor or comparable business in your industry? See prior question.
? At what point is ...
This student's assignment was on how to create a profit/loss statement for a business plan. The solution goes into detail on how to do that.