Financial statements show where your business is at right now and provides you with the information you need to make decisions.
It is important to keep your statements current and to refer to them on a monthly basis.
You should include the following financial forms with projections for three to five years:
Income statement
Cash-flow projections
Balance sheet
When making financial projections, it is important to explain any assumptions - how you determined the figures you used.
If you are looking for financial assistance, lenders will want to know where you will get financing for your business and how you will spend the money.
Lenders want to see historical records for the past three to five years.
