The purpose of long-term financial planning on a business

[Anna52]

Long term financial planning for a business is a very wise thing to do. I mean you are building a solid foundation for your prospective business. The business will grow fast and healthy.

 

[Josephjossy]

Every business need a long term financially planning. A business that don't have a long term financially planning is likely to struggle or even collapse. It is very important to plan your business financially. It have to be a long term financially planning to avoid collapsing in the future

 

[Setfragil]

Long time financial planing of business is a very good thing as it gives the business the needed amounts of time to plan it activities and resources for a better a better business opportunities.

 

[Dubai]

Let me reiterated this, long term financial planning for business is critical if that venture is to grow and develop. You have to make budgets and manage your resources in other to do well financially.

 

[nimzy]

long term financial planning is a very essential element in every business which never want to suffer in future because without it their is possibility of failure in future.

 

[Erik4150]

Many successful business owners use long term planning because it guarantees stability and growth for the business. It makes the business last longer.

 

[Osaz96]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

Having a long term financial goal is extremely important for any business. It is a key factor of growth, that’s why most of the time it is advised that business owners should get accountants to handle their record books and to give them advice on how to grow their business financially and also how to avoid debts and loss.

 

[Dowenship]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

Plans that make certain situation are the one that being the idea of long term investing. So To set long term financial goal is dependent on the business.

 

[Billy]

A strategy for the potential financial development and expansion of a business is generated by long-term financial planning. These types of decisions have lengthy lead times and require a long-term outlook on how the plan will be executed. The plan makes certain predictions based on factors such as future economic prospects, interest and inflation rates, estimates of commodity prices and revenue, and evaluations of the market climate based on particular regulatory and tax structures. The aim of the plan is to set financial targets that result in the successful realization of long-term financial goals once achieved.

Do you know any results if a business does not have this? Please share your thoughts about this. Thank you

A business must have long-term and short-term goals. If a business lacks this, it will fail. Since the staff and management will not have a set objective that they should be working upon. Thus it is mandatory for a business to set its long-term goals quite in advance.

 

[Chibson]

financial planning is very important in any business whether short-term financial planning or long-term financial planning. It helps the business to grow and to have a financial direction.

 

[Richard92]

one purpose of long-term financial plan in a business is because you don't really know what will come up in the future because of this you have to have a long-term financial plan for the business another for the business to survive and succeed well.

 

[tyrim88]

A good laid out financial planning is very vital to any business that is desirious of growth.It will help the organisation to be focus and be a source of reminder of their objetives as regards growth and mitigating future unforeseen circumstance.It helps the firm to cover for evevtualities in the local or global economy.

 

[Bookwormlux1]

A Long term financial plan helps you to be able to do all it takes to make sure that you properly monitor income and outcome flow. It also helps you to budget for different projects you have in mind.

 

[Kingsley]

Infact like the saying goes thus when we fail to plan we plan to fail, this simply translate that if we organize our schedule correctly we will Stand a higher chances of success. Longterm financial planning is essential to enable business men and women to succeed in the Long run.

 

[Kelly5]

The purpose of a long term financial planning in a business is to ensure that the business in question stays relevant and also profitable for a very long time

 

[eLdavis]

In the world of business, anything could happen at anytime. Business that have been going so well could suddenly just crumble. Or could go bankrupt, that is why its always best to have backups such as a long term financial plan

 

[Senator]

If you want to avoid facing to struggle all the time in your business, you should start planning for a long term financial goals intake care of such times. So as to keep your business running

 

[Kunkun]

Businesses need to have a long term financial plan, as this can serve as a guide, or goal for the business. Also it helps the business plan ahead based on different market factors, unpredictable trends and all.

Also a business without a long term financial plan would have problems in the future because there is no planade for the future, so every business who intends to succeed and last long should definitely have one

 

[Trexxxy]

Also a business without a long term financial plan would have problems in the future because there is no planade for the future, so every business who intends to succeed and last long should definitely have one

This is true, every business should have a long term financial term to cope with whatever the future brings. Also, it is important to have a set goal.

 

[cowantussie]

A financial plan is a statement of what needs to be done in the future to achieve company goals. Long-term financial planning is required to implement decisions that have long lead times. ... Help the firm avoid surprises by identifying what may happen in the future if certain events take place.