In this edition we will conclude with the last two parts of the business plan or business idea proposed by the Secretariat of Economic Development of the State of Mexico (SDM).
FINANCE
For this part of the plan, it is very important to seek help to guide you and clear up any doubts you may have, since it is very important to be clear about what each element means.
In addition, you will have to take into account that in some aspects you will have to wait a while to be able to carry out this part, point by point. However, you can prepare a monthly budget, and even an annual one.
Investment Integration. Objective, infrastructure, required equipment, working capital,
inventory requirements, suppliers, origin of the investment (contribution from partners or
financing).
Income and Expenditure Budget. Statement of production costs for the first three years, income statement for the first three years, cash flow for the first three years, balance sheet for the first three years, break-even point, internal rate of return, net present value, financial ratios (liquidity, debt and return on capital).
LEGAL FORM
Aspects to consider when choosing the legal form to be adopted (self-employed,
civil society, limited company, anonymous company, etc.), that is, the type of company to be established.
Type of activity to be carried out. Depending on the activity to be carried out, there are cases in which the applicable regulations require you to follow a specific form.
Type of Company. Depending on the number of partners who are going to form the company, they will have to adopt one form or another.
Liability of partners. Liability may be limited to the capital contributed or unlimited, affecting both business and personal assets.
Financial needs of the project. There are legal forms that do not require a minimum amount of capital to start, unlike those that do and also require a notarial deed, which makes their incorporation more expensive.
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