The purpose of long-term financial planning on a business

[Samuel77]

According to my own point of view the purpose for long-term financial planning in a business is to back up the business so that the business does not go bank rob. it also help to back up a business when you are having shortage

 

[Mawome]

Long time planning in any business is very important, at least it helps the business man plan ahead of time, and put a couple of things together before making any move, it will also help the individual start out big, and he eventually start people will think he has all the money in the world, not knowing that it's all about preparing.

 

[Ayokex]

Long time financial planning in business is like preparing for the unexpected which is the best way of running a business. Short time financial cannot sustain a business because in no time the plan will expire putting the business in a serious jeopardy.

 

[Caali]

Your personal or professional finance is something you should always plan and take care of. The future is unpredictable so its a crucial to have yours secured. Saving cash in your savings account is not the solution because every year the value of your money is devalued thanks to inflation.
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Your personal or professional finance is something you should always plan and take care of. The future is unpredictable so its a crucial to have yours secured. Saving cash in your savings account is not the solution because every year the value of your money is devalued thanks to inflation.

 

[solomonmali]

Being a long-term investor means that you are willing to accept a certain amount of risk in pursuit of potentially higher rewards and that you can afford to be patient for a longer period of time. It also suggests that you have enough capital available to afford to tie up a set amount for a long period of time.

 

[OderuMiracle]

Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals.

 

[Khezo]

I believe the main reason for long-term financial planning the longer you hold nd more profits for the investor store the longer you hold the more profitable the shorter you hold the lesser of it will be that is how it works in the business world

 

[Ralphjoe]

Any business that does not have a long-term plan does not plan on staying long in the business or rather does not plan on being very successful. The secret of growth in business is long-term planning because long-term planning will let the business too focus and plan for it growth processes and how it will be executed.

 

[Victor001]

Why do big organization strive during pandemic, during inflation.its because they prepared for a moment like this. Any organization that fails to plan can absorb any condition which most my turn out less favourablr.lack of planning has made many organization to merge.

 

[Abibatabosede]

When you are planning a business,there should also be a long term financial plan along with the capital for the stability of that business. This will stand as a backup for the business incase of any emergency or economy situation.

 

[kayode10]

What states are used to build with definitely stand the test of time. that is the essence of long-term financial plan for your business. It allows your company to grow comfortably without any external pressure or loophole. That's why entrepreneurs advice to stay away from taking expenses on the business at the early stage and reinvest the profits made into the business so it can grow exponentially.

 

[shakky2]

the availability pf long term financial plan is a very good and promising one as this will help the business to develop and expand to taste and it will also aid the capital and also help the business from collapsing due to financial incapability

 

[Mostee501]

The purpose of long term financial planning of a business,has to do with expansion,growth,development and consistency the business is planning to achieve. These will require vigorous research and inclusion of different experts in the field.

 

[Mahnoor]

Here are ten powerful reasons why financial planning – with the help of an expert financial advisor – will get you where you want to be.

It's possible to manage income more effectively through planning. Managing income helps you understand how much money you'll need for tax payments, other monthly expenditures and savings.

 

[Abdul Naveed]

Long-term business planning helps business leaders think differently about the direction of the company. It also provides the motivation and insight needed to accomplish business goals. This is especially important when significant internal change is needed to maintain competitive advantage.

 

[Mahnoor]

Here are ten powerful reasons why financial planning – with the help of an expert financial advisor – will get you where you want to be.

Income: It's possible to manage income more effectively through planning. Managing income helps you understand how much money you'll need for tax payments, other monthly expenditures and savings.

 

[Philip Omotayo]

Either short time or long time financial plan. One must be involve in one because financial makes one to have a financial security. The reason à business owner must a must have a long time financial plan is that so as to be able to have to fall back to in case of any eventuality not only that, it helps him or her to expand the business.

 

[Ebensco]

For every business, there should be long and short term goals, short term goals being goals that are achievable within a short time while long term involves strategic planning for a long period of time. Long term goals should be Paramount to keep a company moving

 

[Tariq Nazir]

if you want to operate a sustainable business you have to plan for the future. You have to study and analysis what is going to trend in the next three years of your business to help you diversity . You have to study the economy of your country of residence in order to know how inflation will affect the prices of your commodity.

 

[Chumzy]

In the real world of business long term financial planning is called. Strategic planning and it is a very important part of business in the world today. A business has to look into the future based on the continuity concept of accounting.