Being an accountancy service provider, Escrow Consulting Group offers complete bookkeeping services and chartered accounting services to bring to you an entire package. Whether you are a small business accounting firm or a big giant, ECG has got it all for you. Our CPAs and chartered accountants have got all the strategic insight with the right mix of experience. This is why we are offering business planning with the help of right accounting solutions.
For you to understand, a business plan is a tool with three basic purposes
As a communication tool, a business plan is used to attract investment capital, secure loans, motivate employees towards organizational goals and assist in attracting strategic business partners. The development of a comprehensive business plan shows whether or not a business has the potential to make a profit. It requires a realistic look at every phase of the business. Along with, it allows you to show that you have worked out all the problems and decided on potential alternatives before actually launching your business.
The business plan helps you track, monitor and evaluate your progress. The business plan is a living document that you modify as you gain knowledge and experience through operations. By using your business plan to establish timelines and milestones, you can gauge your progress and compare your projections to actual accomplishments.
The business plan guides you through the various phases of your business as a planning tool. A thoughtful plan helps identify roadblocks and obstacles so that as to avoid them and establish alternatives. Many business owners share their business plans with their employees to foster a broader understanding of where the business is going.