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Business financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and objectives have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved.

The Financial Planning activity involves the following tasks:

  • Assess the business environment
  • Confirm the business vision and objectives
  • Identify the types of resources needed to achieve these objectives
  • Quantify the amount of resource (labor, equipment, materials)
  • Calculate the total cost of each type of resource
  • Summarize the costs to create a budget
  • Identify any risks and issues with the budget set

Performing Financial Planning is critical to the success of any organization. It provides the Business Plan with rigor, by confirming that the objectives set are achievable from a financial point of view. It also helps the CEO to set financial targets for the organization, and reward staff for meeting objectives within the budget set.

When drafting a financial plan, the company should establish the planning horizon,[2] which is the time period of the plan, whether it be on a short-term (usually 12 months) or long-term (2–5 years) basis. Also, the individual projects and investment proposals of each operational unit within the company should be totalled and treated as one large project.

The role of financial planning includes three categories:

  • Strategic role of financial management
  • Objectives of financial management
  • The planning cycle

😀 Very Happy

Another fantastic testimonial from a private client.

If you have several pension pots with little return and high costs give us a call and we can make your money work smarter.
...

😀 Very Happy

Another fantastic testimonial from a private client.

If you have several pension pots with little return and high costs give us a call and we can make your money work smarter.

6 days ago

Torbay Financial Services

Beginning, middle and end 🏅

Paul & Jacqui completed the City to Sea Torbay Holiday Helpers Network charity marathon.

An amazing day literally full of ups and downs 🏃⛰️🌅 but we got there in the end.

Thank you to all the marshals, event coordinators and superb makers of tea and cake. We appreciate all your kindness.

#torbayfinancialservices
#thhncitytosea
#citytosea
#torbayholidayhelpersnetwork
#charity
#keepingitlocal
...

WANT TO TAKE MONEY FROM YOUR PENSION SOON?

PART 3

Can I take money from my pension if I’m still working?

With some pension plans you can access your money as and when you need it to ease yourself into retirement. This can include using it to top up your salary while you are still working.

If you are planning to take money and keep saving into your pension tax efficiently, there are extra things to think about.

Find out more from Paul the Adviser.

Pensions are also about meeting your long-term needs, so if your current pension isn’t offering what you want for your retirement goals, you might want to consider moving your pension savings to another pension plan or provider.

If you would be giving up any valuable guarantees or benefits on your current plan, for example a Guaranteed Annuity Rate, this may not be the right thing to do.

So take advice before you take any action.

☎️ Paul 07891 614559

💻 paul@torbayfinancialservices.co.uk
...

WANT TO TAKE MONEY FROM YOUR PENSION SOON?

PART 3 

Can I take money from my pension if I’m still working?

With some pension plans you can access your money as and when you need it to ease yourself into retirement. This can include using it to top up your salary while you are still working.

If you are planning to take money and keep saving into your pension tax efficiently, there are extra things to think about. 

Find out more from Paul the Adviser.

Pensions are also about meeting your long-term needs, so if your current pension isn’t offering what you want for your retirement goals, you might want to consider moving your pension savings to another pension plan or provider.

If you would be giving up any valuable guarantees or benefits on your current plan, for example a Guaranteed Annuity Rate, this may not be the right thing to do. 

So take advice before you take any action.

☎️ Paul 07891 614559

💻 paul@torbayfinancialservices.co.uk
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66 Fore Street
St Marychurch, Torquay
Devon TQ1 4LX

e: paul@torbayfinancialservices.co.uk
t: 01803 411460   m: 07891 614559

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