The purpose of long-term financial planning on a business

[Dubai]

Purpose of long term financial planning is to make future arrangement or it is a highly collaborative process that considers future scenarios and helps governments navigate challenges. It is not just for you but for your ancestors as well.

Long term financial plan is quite key for the survival, growth and expansion of the business. It gives financial security to the enterprise. It helps prevent unnecessary losses that would have arose from not have a solid plan. Many businessmen know that it's a long term financial plan that could make them multinationals and multimillionaires.

 

[Emma Aneni]

Business is all about money once you are able to come for a business with no help to start up a business, you have to set up a good strategy for your business you have to have a good plan make your business well. And have a good location for your business., planning it is very important before you go into any business

 

[btaliat]

Having long term goals will allow the company and even the business owners to set up some plans to be executed in the future. In other words, business owners should be careful not to allow long term investment to disrupt short term investments

 

[Ausaf Ali]

Many companies have to run the own business for the growing of own eraning and make the payments for the person making good business. By the time of passage many people were active and your business and business deal was joking about that one time when point of the money lenders.

 

[Nurudeen]

Having a long term goals in Business and Investment is very important now adays because the more you stay in the business for long the more profit you will be able to make from the business. For example profit you make in three months will be less if you stay more than that

 

[Nicklas22]

Any business which doesn't have a long term financial plan is not 100% safe from failing
A business should have a long term financial plan to achieve future goals
Considering the fact that financing is an important aspect of business management , long term finance planning is thus an aspect that one should be serious

 

[sam386150]

Long-term financial plans in business, when it comes to financial terms in business you need to consider that any business that doesn't come with a long-term plan do not last longer, so having a long-time plans in business is a strategies of sustaining that business.

 

[Georgeadawara]

The long time financial planning in business is a great idea bit helps alot many people can start a business but by the way they stop because they lack long time plans they are after instant results not planning for the feature. but for long time business plans even your grand children will benefit from it.

 

[Segshowee]

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

The purpose of having a long-term financial plan cannot be overemphasized. Adequate Long-term financial plan is tantamount to business success because he who failed to plan, plan to fail.

 

[Onachukwu]

Profit is the positive financial gain your business makes after you've subtracted all your expenses. The ability to generate profit is crucial to the survival of your business. It is about more than just making money — it's also about the ability to use surplus funds to invest in and grow your business in the future.

Post automatically merged: Feb 6, 2021

Profit is the positive financial gain your business makes after you've subtracted all your expenses. The ability to generate profit is crucial to the survival of your business. It is about more than just making money — it's also about the ability to use surplus funds to invest in and grow your business in the future.

 

[Bart Simpson]

A investment statement serves as a roadmap by helping you decide what to do during life's journey. It is useful to companies because it lets them make set profits, target expenditures and track their savings to help them concentrate on important matters. It allows for companies to adjust as the times change so that they are prepared for any situation that might arise; it is both personal and business level in nature.

 

[Kamon c4]

This helps you set a target and a goal for your business. ALso it prepares you ahead for your business adventure. This can also be a financial management strategy used to control expenses. Though it’s not important but in most cases business owners without long term finacial planning finds it difficult to create a target for their business

 

[Joseph555]

There is need for long-term financial plants for a business to survive, if you cannot provide financial support for your business in a long-term basis that means you are bound to fail because business need money for it running

 

[Aaliyan]

Long-range business planning helps business leaders to think differently about the company's direction. It also provides motivation and insight into the type of performance necessary to meet business goals. This is especially important when significant internal change is required to maintain competitive advantages

 

[Oliver 20]

Financial plan is an assertion of what should be done later on to accomplish organization objectives. Long term financial planning is needed to actualize choices that have long lead times Monetary plans are intended to Make the connection between various venture proposition and the financing decisions accessible to the firm.

 

[Kingsley]

Financial planning could either be in short term or long term when we say short term we are saying about 6months to a maximum of 5years and in long-term we are taking about 5years and above. In making plans as to how long the business will run, one would consider the type of business and the capital involved in starting the business. After putting into consideration all those factors in details one will decide the duration of the business. But most times long-term business are preferred because of the length of time in which the business will yield dividend.

 

[Godleads1]

The aim of long term financial plan is to be able to sustain and maintain the business. It aims at increasing profit which is also used to re-invest in other profitable businesses.

 

[Ertugral]

Financial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals. ... Tax planning, prudent spending and careful budgeting will help you keep more of your hard earned cash. Capital: An increase in cash flow, can lead to an increase in capital

 

[Niolaxx]

Long term planning is essentially important it makes one forsee the problem s beyond,I'm the financial aspect,there is enough capital to fund the .business

 

[Artukbey]

Financial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals. ... Tax planning, prudent spending and careful budgeting will help you keep more of your hard earned cash. Capital: An increase in cash flow, can lead to an increase in capital.