sources of financing for photography business
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****My business for this assignment is to open my own Photography Business specializing in newborn photography****
Financial forecasting is important because it adds discipline to the way an entrepreneur thinks about the venture. Forecasting helps determine cash needs and timing of these needs. It also helps the value of the venture. Thus, the financial forecasting is critical to the success of your business plan.
The cash flow forecast is arguably the most important part of the plan, but each of the other documents is important from a planning perspective. There are three sections in a financial plan i) the Starting Balance Sheet, ii) the Pro-Forma (or Forecast) Income Statement, and iii) the Cash Flow Forecast.
explain your approach and the steps you have taken in order to build the forecast of the short, medium, and long term financing needs.
1) What might the sources of financing of your chosen plan be? Please Explain.
In the course of preparing your paper, you will probably want to think about, among other things, the points such as:
-Sources of financing (e.g., angel financing)
-Preparing pro-forma financial statements for lenders (e.g., Balance Sheet and Income Statement)
-Describe methods of forecasting the future financial needs of the enterprise
-Evaluate a set of assumptions regarding investment required, projected sales, profit margins and credit on the financial projections of a business firm
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1) What might the sources of financing of your chosen plan be? Please Explain.
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Explain your approach and the steps you have taken in order to build the forecast of the short, medium, and long term financing needs.
The short, medium and longer term financial needs can be projected by using a combination of quantitative and qualitative forecasting approaches. For example, industry and market growth figures can help in identifying the expected growth of the company in terms of revenues and sales on year on year basis. Based on the sales, projected operational costs and operating profit can be formulated by observing the trends in the industry or financial statements of similar companies. Expert inputs can be incorporated to make projections about capital investments, working capital requirements, optimal debt to equity ratio and other elements of the pro-forma financial statements.
1) What might the sources of financing of your chosen plan be? Please Explain.
I will evaluate and approach various source of financing for my venture. First of all, I will try to seek equity investment from high networth individuals or angel investors or venture capital firms for this venture. Secondly, ...
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