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Helping Canadian businesses beat the odds!
There are many things that business owners should keep in mind when they are opening the doors to their business says Edmonton CPA. One of the most important things that they should do, is create a business plan. Businesses who complete business plans for their businesses are 50% more likely to grow their revenue been businesses who have no plan at all. Simply by creating any plan can help a business succeed, but great to plans can help business owners succeed greatly. The business plans that Spurrell and Associates use, our excellent business plans that can significantly help business owners succeed in business. Since 50% of businesses that open the doors to their business and up closing in five year business owners should do everything in their power to increase and maximize their odds.
Business owners may wonder why the shouldn’t just use one of the bank templates or template from another organization or financial institution. Edmonton CPA says that those plans tend to be financed specific. They often include all of the components that a bank is going to need to see in order to decide whether to finance that business or not, however those plans are less likely to be organized in order to help a business owner actually succeed in their business. Spurrell and Associates business plan are actually going to help business owners set realistic goals, create a plan in a schedule that are going to help them achieve those goals, as well as avoid common problems, and if they can’t avoid problems, they will be able to be prepared for problems that they may face. Spurrell and Associates have been developing and refining their business plan for over seven years.
Not only has Spurrell and Associates been able to develop and refine their business plan over so many years, they do over 100 business plans a year, therefore they are extremely good at it. Edmonton CPA says not all accountants can do everything equally, but because Spurrell does so many business plans every year, they are extremely good at it. They also have a template that they work from, which allows them to be able to deliver the same type of service to multiple businesses.
Not all accountants that do business plans do them equally either says Edmonton CPA. Most CPAs Centre their business plan around your and financials and tax returns. However, Spurrell and Associates is an accounting and consulting firm, and they tend to see everything that a business does. They have a CFO style relationship with their businesses, and can easily see what works into that business and what does not work in the business, other than just ratios and numbers. They are able to see very clearly what works not only day today, but week to week and month to month in that business. They also have seen so many businesses, that chances are very great that they have seen a similar business to them, or at least seen a business attempt some of the same strategies, and are able to tell reasonably well what will work, or what won’t work.
One of the easiest ways to ensure businesses are more likely to achieve their goals says Edmonton CPA, is simply by them in creating a business plan. Industry Canada has a statistic that says businesses who complete business plans for their business are 50% more likely to grow the revenue in their business and businesses who do not have a plan. Businesses who do not complete a plan in their business, also don’t have the goals to reach, and they end up working extremely hard in their business, but don’t actually grow their business. As Benjamin Franklin once said, if you fail to plan, you are planning to fail. Business owners can simply create a business plan and increase their chances of success.
Business owners need to understand however that not all business plans are created equally. Edmonton CPA says the free templates that business owners can get from banks, financial institutions or other organizations often aren’t complete, or comprehensive. Especially the ones business owners can get from their bank, our only financed specific. They contain the information that a bank is going to require in order to approve financing, but it’s not actually going to help a business owner set achievable goals and succeed. The business plans at Spurrell and Associates are extremely comprehensive, since they have been doing business plans for over seven years, there template has been developed and refined through many years of experience.
Not only are Spurrell and Associates very good at creating business plans, since they are also accountants, they are extremely knowledgeable when it comes to creating cash flows. Professionals who are not accountants are more likely to create an accurate cash flow statements. Edmonton CPA says even brand-new CPAs struggle with cash flow projections, so professionals who are not CPAs are more likely to create cash flow projections that are inaccurate. The reason why this is dangerous in the business plan, is because inaccurate cash flows can make a business owner plan poorly. Since one of the top reasons why businesses fail in Canada today, is due to cash flow problems, this is not a report where business owner is going to want to have errors. Business owners should aim to have as accurate a projection as possible in order to create their plan properly says Edmonton CPA. When Spurrell and Associates creates the cash flow projections, they are creating the best cash flows that they can, but only because they are accountants, but because they completely understand the business as a whole.
By creating a business plan that has extremely accurate cash flow projections, and worked on by business professionals to note only understand how to do business plans well, but have taken the time to fully understand the business, entrepreneurs can be sure that not only will they be 50% more likely to go there revenue, will be extremely more likely to grow their business and avoid closing the doors, which is what 50% of entrepreneurs end up doing within five years.
