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Planned Changes

It's likely that your business plan involves adding to or changing some aspect of your business. Such decisions can have a significant impact on your business' financial position, and it's crucial to consider them carefully.

If you run an established business, detail any major additions or changes you are planning to make. If you're starting up, discuss your main requirements, including what premises, equipment, or vehicles you'll need to get your business off the ground.

  • How much do you expect each purchase to cost?

  • What are your reasons for making each purchase? How will this move your business closer to its' goals? If you run an established business, try to show why your current infrastructure is unable to support your requirements.

  • Where you are in the buying process? For instance, have you begun contacting potential suppliers? Do you have quotes from them?

  • How are you paying for these changes?

  • Do your planned changes raise any regulatory issues? For example, do they require new permits or business licenses? Will they affect business taxes and levies? Consider the municipal, provincial, and federal levels of government.

  • If you require financing, what is the total amount you will need to borrow?

You may wish to pursue term financing or leasing for such purchases. Your accountant or banker can help you consider such alternatives.



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