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    Posted October 1, 2014 by
    new york city, New York

    Lamar van dusen The financial plan is the quantitative and encrypted part of the business plan

    Lamar Van dusen : The financial plan is the quantitative and encrypted part of the business plan. Far from being a mere administrative formality, the financial plan is a legal obligation on any company on its incorporation.

    In case of bankruptcy of the company in its first three years of life, may be requested by the Judge. If the capital of the company is considered manifestly inadequate to ensure its viability in the first three financial years, the responsibility of the founders can be initiated.

    The notary receives financial plan before the act of incorporation and canned. The site of Notaries in Belgium explains in detail the legal aspects of the financial plan.

    The plan, drawn up on two years of minimum activity, but more often three successive financial years, consists of three parts:

    The income forecast results: shows the sales forecast based on the income and expenses of the company.
    The forward estimate: is essential to assess the needs and resources of the company. It is divided into a land use plan (the business needs) and a financing plan (how to finance these needs?).
    The investment plan: details the investments required for the operation of the company.

    The site includes becompta.be in detail the various components of the financial plan.

    As this is a very important step in legal terms as at the financial medium-term health of the start-up, the project developer should certainly not hesitate to call a professional to help finalize its financial plan.

    In this matter, it can benefit in some cases (start-up companies in their first year of operation), the free assistance of an accountant and tax or notary.

    Finally, the financial plan is a document that will serve during the negotiation of loans from financial institutions such as when applying for financial assistance to national or regional bodies.
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