So let’s take a moment to check in. Do you have a handle on your cash needs (i.e your projected income and expenses) for the next 12 months?
Forecasting will help keep your finger on the pulse of your day-to-day business operations – as well as help with strategic planning.
Whether you’re a contractor, a sole trader, or own a company; there are many benefits from forecasting your cash expectations. These include:
There are few golden rules when it comes to forecasts. They need to be accurate, they need to be easy to understand, and they need to be realistic.