Module 3, Topic 34
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Profit and Lost Forecast

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Present a summary of your profit and loss forecast for the next year in this segment before attaching a detailed forecast to your plan. A profit and loss forecast is a document that gives a snapshot of your business’s expected performance over the coming year, and a projection of your financial activities. Forecasting profit and loss can be quite difficult for existing businesses, let alone start-ups with no track record to go on. You can find more help and advice on understanding profit and loss and how to calculate this in the Finance section of the Book Your Pet Membership. If you’re still in the start-up phase, you need to base your figures on your market research by estimating the value of the market and the share of it you could take from your competitors as your business develops. Try finding industry data or using publicly available statistics to support your forecasts. You can also provide pessimistic, realistic and optimistic forecasts rather than just one to promote your objectivity.