Financials

Management/Personal Financials

• Personal Assets Brought into the Business See Example
• May be in the form of cash, tools, equipment, vehicles, inventory, fixtures etc.
• Personal Net Worth Statement See Example
• A comprehensive list and valuation of everything you owe and a comprehensive list of your financial obligations.
• What you own less what you owe equals your net worth.
• Personal Monthly Budget See Example
• A detailed list of your typical monthly expenses that includes totals. This is necessary to know what the minimum wage your new business must provide for you.

Business Financials

• Use and Source of Funds See Example
• What will be the funds required to start your business be used for and what is the source of these funds?
• One Year Cash Flow Statement See Example
• A detailed cumulative listing of your projected monthly sales and expenditures by month for the first 12 months of your business.
• This is necessary so that you have an estimate of what the cash requirements will be before starting your business. Many businesses fail because they are undercapitalized so estimating future capital requirements as accurately as possible is very important.
• You must make assumptions based on facts when estimating sales and in some case expenses. Please provide these assumptions on a separate page.