One of the most intense elements in a business plan is the financial plan. This document should be a catch-all for all finance-related matters in your business. These documents are usually prepared with the assistance of an accountant or financial planner and should be include financial reports from past years, projections for the next 2-4 years, statements on the business’s financial position, sales activities, income statements, cash flow, expected requirements, and performance indicators. Since co-operatives have a limited liability structure, directors or members are not required to provide details about their personal financial status.
The financial plan will likely be customized based on the bookkeeping, accounting, or consulting service you use. However, the Business Development Bank of Canada does provide an extensive resource in a format that is accessible and user-friendly.