The purpose of long-term financial planning on a business

[Eodine]

business is all about money once you are able to come for a business with no help to start up a business we 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

Long term financial planning is needed for every business that wishes to grow and one major way to ensure that is the strategy you have mentioned here which is important to keep the business.

 

[Justin]

Unless you business is short term in nature, a seasonal business for example, you need to think about strategies for long term business management.

 

[Alexandoy]

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.

When I was working in a bank, we have a "business plan" for 2 years and another for 5 years. The plan is for the staffing, volume of production that included the needed resources. It is not easy to make a long term plan because it would require a good foresight. I admit that I am comfortable with the short term plans than the long term.

 

[Richard92]

Some trends and factors that affects the markets dynamics and any firm that is not prepared for such period will be in the downside of business,reason for long term financial planing,it keep the organisation firm to withstand and reinvent itself.

one purpose of long-term financial planning on a business is to enable the business have a good structure and be stable and balance in order for operation to go smoothly.

 

[Sotherefore]

Financial planning for long-term as you said is only for people that do not have enough money but there are some rich business organisation that can actually have whatever money they needed to start up a business immediately, it depends on one's financial status.

 

[Chibson]

Any business that does not have long term financial planning, will likely not succeed. Financial planning and management is very important for businesses.

 

[GIFTMICHAEL]

As an entrepreneur, we need have vision, make plans, so when our business us suffering from uncertainty we can have diverse option to tackle it.

 

[Ralphjoe]

Having a long term financial plan is very important if a business would survive. This plan is designed for more profit and help the business in difficult task.

I completely agree with you that a long-term financial plan for your business is highly important for the survival of a business because long-term planning ensures that the business navigate around it bad times.

 

[Kayzzy3]

I completely agree with you that a long-term financial plan for your business is highly important for the survival of a business because long-term planning ensures that the business navigate around it bad times.

Another thing about long term financial plan is that it is a form of encouragement and motivation. It keeps the individual on his or her toes, time and again the individual is reminded of the goal and he or she takes instantaneous stock with his or her mind.

It is very important that every individual that wants a better life set financial goal no matter how small or great.

 

[Abigael]

Lack of long term financial planning in a business can really make the business to struggle. Especially when emergencies occur, the business will not have enough finances to keep it from failing. So a business should have a good plan concerning its finances.

 

[Ralphjoe]

Any business that doesn't have a long-term financial plan is always going to struggle. Having a long-term financial plan does not mean that the funds are readily available or accessible, but simply mean that you have a set of strategies in place on how you wish to generate funds in the long run.

I completely agree with you that any business that does not have a long-term financial plan in place for it to grow but definitely not last long as it will be exposed to the vulnerability of the business world when it has to do with external business environmental factors.

 

[Bookwormlux]

Financial planning policies like savings go a long way in helping an individual to achieve long term goals that cannot be met using normal day to day planning. Long term planning is actually the best.

 

[Patrik]

by doing this, you guarantee that your business won't have issues from the financial side atleast, there are other issues that you might encounter, but atleast you delete the financial one from them

 

[ahmedo24]

Financial planning policies like savings go a long way in helping an individual to achieve long term goals that cannot be met using normal day to day planning. Long term planning is actually the best.

You actually have a point because when you have a long time financial plan you won't be taking unnecessary decisions in your business and you can be accumulating profit gradually.

 

[Bookwormlux]

Long term financial planning helps one to not get worried when things ain't moving fine In the early days of the business, since you have a view of a bigger picture.

 

[Sotherefore]

Long-term planning in a business is necessary, any business that do not consider a long-term planning might not accurately bring out the best business plan, there are of things you need to plan in business before you even think of starting.

 

[Razor1911]

Long-term planning in a business is necessary, any business that do not consider a long-term planning might not accurately bring out the best business plan, there are of things you need to plan in business before you even think of starting.

It is the basic necessity of a business plan to have a long term approach. When we start our buisness, it is our duty to draft a plan according to the future. Long term planning is what is needed the most.

 

[Sotherefore]

It is the basic necessity of a business plan to have a long term approach. When we start our buisness, it is our duty to draft a plan according to the future. Long term planning is what is needed the most.

Do you really think that there is no business in this world that can actually succeed without going into long-term planning, I just believe that if have the money I need now I can just start up my business without any long-term planning.

 

[Bookwormlux]

Do you really think that there is no business in this world that can actually succeed without going into long-term planning, I just believe that if have the money I need now I can just start up my business without any long-term planning.

That is just like gambling with your capital and it is usually not advisable as you would run into losses in a way that you won't be able to handle.

 

[Sotherefore]

That is just like gambling with your capital and it is usually not advisable as you would run into losses in a way that you won't be able to handle.

if this is so then operating a business is one of the most difficult thing because if you said that without proper and long-term planning of business that there is a possibility of business failure means that starting up a business is not easy.