Financial Forecast Template

Please download the template from the link below and email the completed version to the Business Advisor helping you with your application.

You will need a programme which can open Microsoft Excel to view and complete this document.

If you have any trouble with the links above please email your Business Advisor who will be happy to send them as an email attachment instead.

And if you need any other help completing the documents please drop us a line or contact the Business Advisor helping you with your application directly.

To download you may need to right click and select ‘save target as’.

Download the Financial Forecast Template

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Quick Tips

5 Tips for completing your Financial Forecast document

1. Work in stages

The forecast spreadsheet contains 4 tabs which can feel overwhelming at first, so it’s a good idea to break it down into chunks.

Start with the Personal Survival Budget which is about your personal expenses and how much you need to maintain your current lifestyle. Then move onto the sales forecast, thinking only about the income your business will generate. And finally, complete the cashflow forecast tab and expenses you will incur.

2. Consider seasonal variations

When completing the sales forecast, plot out the different months of the year and consider how events and customer behaviour at different times of the year may affect your sales.

For example, retailers may find that the run-up to Christmas is the busiest time of the year but for garden maintenance businesses December may be one of the quietest months.

3. Think about your average sales prices

If you have a lot of different products or services then it won’t be possible to list every separate item in your sales forecast. Instead you could consider what your average customer will spend and use that for your forecasts, or take it a step further and identify groups of customers such as high spend, medium spend and low spend.

4. Don’t forget the small expenses

When thinking through your business expenses it is easy to think about the big costs you incur such as rent, equipment, stock or marketing.

While these expenses have the largest impact on your cashflow remember to also include the expenses that come around month after month and are easily overlooked – things like stationery, postage, credit card processing costs and online software subscriptions.

5. Calculate your breakeven sales from your expenses

Figuring out your sales before you’ve started your business can be tricky. One solution is to start with your monthly expenses, then work backwards to figure out how many units you need to sell to cover those expenses.

This will give you a basic breakeven point from which you can work on your sales forecasts further.