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Businesses world-wide have been invited to work with OCFO to develop and manage their financial planning for 2023. This is according to Louw Barnard, CEO and Co-Founder of Outsourced CFO, a financial consulting firm that has been working with clients worldwide since 2011.
“With over 900 clients in 23 countries, we believe it’s now time to engage further with businesses world-wide to develop their financial planning goals for 2023,” says Barnard.
“While the world is finally freeing itself from the pandemic, we’re still living with the economic fallout, including the issues around shipping, logistics, shortages, and the high cost of living.
“There is a strong need for businesses to plan for 2023. This isn’t business as usual, so we can’t conduct our business the way we always have,” he continues.
Financial planning helps businesses to forecast future financial results and decide how best to use the company’s current financial resources in order to realise both short-term and long-term plans. Because planning involves looking well into the future, it is a highly creative thinking process as well as an analytical one, and businesses might need to call in the experts to help juggle these aspects of the financial roadmap.
“Having a strong financial plan for your business is probably the most important single thing that you can do to help yourself succeed. It’s your roadmap, your guideline, a reminder of what your goals are – what you are trying to achieve in the short term and the long term. It is so important that possible investors, bankers, and creditors won’t even set up a meeting with you if you don’t have a financial plan in place. We cannot state this clearly enough – get your business’s financial function set up effectively from the start, and the rest will follow,” says Barnard.
Financial planning helps manage cash flow properly, allocate budgets correctly, set realistic goals, mitigate risk, and plan a roadmap for the…
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