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0 FINANCIAL ESTIMATES
8.1 Introduction
The success of a business is depending on their financial plan. Financial Planning is the process of
estimating the capital required either in the short or long-term financial in order to start new
business. A financial plan is important for a business run and function with effectively. By
planning the business, it can determine the process of framing objectives, policies, procedures,
programs and budgets regarding the financial activities of a concern.
Other than that, a financial plan will help to cover all the financial data from the operating budget
which are the marketing, operations, and administrative budgets. This financial budget information
is then transformed into financial budgets or estimates. Financial plan management is one of the
best ways for the business ventures to remain profitable. To effectively manage your venture
finances and realistic budget, by determining and preparing several pro forma statements, namely
cash flow, income (profit and loss) statement and balance sheet is very important in long-run
survival of the business.
8.2 Budget
Total 321,125.00
8.2.2 Marketing Budget
Signboard 500 -
Total 35,382.60
8.2.4 Start-up Cost
Working Capital RM
ADMINISTRATIVE BUDGET
Administrative
Operational
Contingencies 5% 1,069.22
Activities Deadlines
Incorporation of venture January 2019
As can be seen from the project milestones, the total time for the company to fully open
their business is approximately 11 months. This is mainly due to the Design and Development
phase that take almost 3 months to be completed. Then, followed by the Completion of Prototype
phase which is for a month. This is to ensure that our company’s product is of the highest quality
and able to withstand the real condition at the required spaces.
The graphical representation of Table 9.1 is included in the appendices part in a Gantt chart
form for easier viewing. The success of these milestones will be measured by means of a meeting
at every end of month. On these meetings, the actual progress will be compared with the milestones
and if the progress is later than the planned, alleviation steps will be taken, such as increasing the
working hours and by executing two or more activities at the same time to make the work complete
on time.