By Frausto Smith at October 07 2020 19:35:41
So, although a detailed business plan may not be required for an online business, I am going to include it here so you can at least look at and consider each section and determine yourself if it applies to your business.
An income statement shows revenues minus expenses, in order to calculate net income or net loss. Start_ups should project these expected results for the first twelve months of business, then quarterly for the next two years. A list of a company's assets (what you own), liabilities (what you owe), and net worth (assets minus liabilities) is called a balance sheet. The statement of owner's equity shows the owner's initial investment, additional investments, and retained earnings, minus owner withdrawals.