What does it involve?
Strategic financial planning involves a 360º, whole picture evaluation of the company operations to create a comprehensive financial plan:
- Budget development, cost systems and management reports
- Resources required to achieve objectives (cost, type, amount)
- Working capital management (inventory, receivables, payables and cash)
- Employee structure, payroll and benefits
- Risk identification and management
- Corporate tax planning
- Succession planning
As a business owner, your personal financial affairs will be considered at the same time.