How Do I Create Accurate Financial Projections for a Business Plan in South Africa? (with Free Checklist)

Financial projections for a business plan are forward-looking financial forecasts that translate your business assumptions into expected revenue, expenses, profit, cash flow, assets, liabilities and funding requirements. They are not simply neat Excel tables added to the back of a business plan. For a lender or investor, the projections help answer a much more important question: does the financial logic of this business actually work?

Accurate business plan financial projections should show where the numbers come from, how the three financial statements connect, how much cash the business needs, when it expects to break even and what happens if important assumptions are wrong. A five-year revenue forecast growing neatly by 20% every year is not particularly useful if nobody can explain what creates that growth.

For South African funding applications, the required level of detail depends on the institution and funding product. The IDC, for example, asks applicants for a detailed five-year income statement, balance sheet and cash-flow forecasts, with the first 12 months presented monthly. The NEF also requires comprehensive financial information supporting the commercial viability and financial position of applicants. The important lesson is that your financial projections format should be designed around the business and the intended funding decision, rather than copied blindly from a generic template.

This guide explains how to create accurate financial projections for a business plan in South Africa, including sales forecasts, operating expenses, cash flow, working capital, startup projections, the correct financial projections format, Excel financial projections, scenario testing and a fully integrated three-statement financial model.

What are Financial Projections for a Business Plan?

Financial projections for a business plan are estimates of a company’s future financial performance based on documented assumptions about sales, pricing, costs, staffing, investment, working capital and funding.

A robust projection normally includes three connected forecasts:

1. Projected income statement – shows revenue, expenses and profit.
2. Projected cash-flow statement – shows when cash enters and leaves the business.
3. Projected balance sheet – shows projected assets, liabilities and equity.

Supporting schedules normally explain how those statements were calculated. These may include revenue drivers, payroll, capital expenditure, depreciation, debt, working capital, tax and shareholder funding.

For a startup, financial projections answer questions such as:

• How much money is needed before launch?
• How quickly can sales realistically grow?
• When does the business become profitable?
• When does it become cash-flow positive?
• How much working capital is required?
• Can debt repayments be serviced?
• Will additional funding be required?
• What happens if sales are lower or costs are higher than expected?

The purpose is not to predict the future perfectly. It is to create a financially coherent version of the future that can be explained, tested and challenged.

Why Lenders and Investors Scrutinise Business Plan Financial Projections

Financial projections are one of the principal tools lenders and investors use to assess whether a business case is commercially and financially credible.

A debt funder is particularly interested in cash generation and repayment capacity. Can the business generate sufficient cash to pay suppliers, employees, tax and scheduled debt obligations without constantly requiring additional funding?

An equity investor asks a different question. Is the business capable of growing revenue, margins, cash generation and ultimately enterprise value sufficiently to justify the investment risk?

Development finance institutions may consider both financial sustainability and broader mandate requirements. The NEF, for example, expressly considers commercial viability and the business’s ability to repay funding.

Regardless of the funding source, weak projections tend to have familiar characteristics:

• aggressive revenue growth without operational justification;
• profitability appearing unrealistically early;
• working capital being ignored;
• capital expenditure omitted or underestimated;
• no connection between market assumptions and sales;
• cash flow that does not reconcile with the other statements;
• funding requirements that do not match the financial model; and
• no downside or sensitivity testing.

The issue is rarely that a forecast turns out to be exactly wrong. All forecasts will be wrong to some degree. The problem is when the assumptions cannot be explained.

The Three Financial Statements Every Business Plan Needs

Before you type a single number, you need to understand the framework you’re building. A credible set of financial projections for a business plan is not three separate tables. It’s one integrated system made up of three statements, and those statements must link to each other mathematically. If they don’t, the model is broken, and a funder’s financial analyst will find it within minutes.

The income statement shows revenue, costs, and profit or loss over a period. Net income from the income statement flows into retained earnings on the balance sheet, which accumulates over time. The cash flow statement starts with that same net income figure, adjusts for non-cash items and working capital movements, and produces an ending cash balance. That ending cash balance must equal the cash line on the balance sheet. This reconciliation check is among the first things a sophisticated reviewer tests, and a model that fails it is likely to raise immediate concerns before anything else is read.

The appropriate forecast period depends on the purpose of the business plan and the funder’s requirements. Three-year forecasts may be adequate for some internal plans or simpler funding applications, while institutional and long-term funding assessments often require five years or more.

The IDC’s published business-plan guidelines specifically request detailed five-year income statement, balance sheet and cash-flow forecasts, with monthly forecasts for the first 12 months. NEF funding documentation also commonly requires five-year financial projections.

For most startup and funding models, monthly forecasts during Year 1 are particularly valuable because they reveal short-term cash pressure that annual forecasts can hide. A business can appear profitable over twelve months and still run out of cash in Month 4.

After Year 1, quarterly or annual presentation may be appropriate depending on the business and funder. The underlying Excel model can still contain greater detail than the summary presented in the business plan.

What Is the Best Financial Projections Format for a Business Plan?

A strong financial projections format separates assumptions, calculations and outputs rather than placing everything onto one spreadsheet.

A practical structure is:

The best financial projections format for startups is usually detailed enough to expose cash constraints but simple enough that every important output can be traced back to a small number of understandable assumptions.

Avoid creating twenty-five colourful worksheets merely to make the model look sophisticated. Complexity is useful only when the underlying business requires it.

Financial Projections Format: What the Business Plan Should Show

The business plan itself does not need to reproduce every worksheet contained in the Excel model.

A clean financial section can usually present:

• key assumptions;
• projected income statements;
• projected cash flow;
• projected balance sheets;
• funding requirement;
• break-even analysis;
• important financial ratios;
• scenario or sensitivity results; and
• a short explanation of the main drivers.

The Excel financial projections contain the engine. The business plan contains the outputs and explains what they mean.

Start with Assumptions, not Numbers (the Step Most People Skip)

Here is the counterintuitive lesson at the centre of building credible forecasts. Most people open a spreadsheet and start typing revenue figures. That’s the wrong sequence. Every credible projection is downstream of documented assumptions, and if you build the numbers first, you have no way to defend them when a funder asks where they came from.

The assumptions that carry the most risk in your model are the ones with the highest impact on your bottom line. Revenue growth rate, pricing, and conversion rate sit at the top of that list. COGS as a percentage of revenue and key overhead items like payroll and rent are the next tier. Working capital assumptions, specifically how long customers take to pay you and how long you take to pay your suppliers, determine the timing of your cash flow projections. These timing assumptions are often what separate a model that reveals cash gaps from one that hides them.

Every assumption needs a source. Industry benchmarks, market research reports, supplier quotes, and comparisons with businesses in similar sectors are all legitimate. The difference between a management estimate and a benchmarked figure matters less than you might think. Lenders don’t expect perfection. They expect honesty and traceability. An assumption labelled “management estimate based on three years of sector experience” is far more credible than an assumption with no label at all.

Before you open your financial model, build a simple assumption log: a table with columns for the assumption name, the value and unit, the source, the rationale, and a sensitivity rating of high, medium, or low. Every formula in your model should trace back to a row in this log. This document is what you hand to a due diligence reviewer, and it’s what turns a spreadsheet full of numbers into a structured, defensible argument.

A Practical Financial Assumptions Table

A useful assumption schedule might look like this:

The value is not in producing a prettier assumptions sheet. It is in making each important forecast driver visible and challengeable.

Building your Projected Income Statement from Scratch

How Do I Estimate Sales Revenue for a Business Plan Financial Projection?

Estimate sales revenue from the operating drivers that actually create sales rather than choosing a desired annual growth percentage.

Common formulas include:

Product business:
Units sold × selling price = revenue

Consulting firm:
Billable consultants × billable hours × hourly rate = revenue

Subscription business:
Paying customers × average monthly subscription = revenue

Hotel or accommodation business:
Available rooms × occupancy rate × average room rate = revenue

Manufacturing business:
Production capacity × utilisation × selling price = revenue

Property development:
Units sold × average selling price = revenue

A startup’s forecast should also account for ramp-up. If a factory has capacity to manufacture 10,000 units per month, that does not mean it will sell 10,000 units in Month 1.

Separate capacity from demand.

That distinction prevents one of the most common forecasting errors: assuming that because a business can produce something, customers will automatically buy it.

Start with revenue, and use a bottom-up approach. For a product business, monthly revenue equals units sold multiplied by price per unit. For a service business, it’s clients multiplied by average retainer, or billable hours multiplied by hourly rate. The key is to ground the forecast in observable business mechanics, not in a desired number that makes the model look good. A startup with three salespeople and a 60-day sales cycle cannot realistically generate 500 new clients in Month 1. A lender will spot that immediately.

Account for ramp-up time. Most businesses don’t operate at full capacity on Day 1. A realistic startup projection shows a modest number of clients or units in Months 1 through 3, a gradual build through the middle of Year 1, and a steadier rhythm emerging towards the end of the first year. Seasonality should also be modelled where it’s relevant. A business that relies on retail Christmas spending should not show flat monthly revenue across the year.

Once revenue is built, layer in your cost of goods sold. COGS covers the direct costs of delivering your product or service: materials, direct labour, packaging, shipping, and contractor fees. Express COGS as a percentage of revenue to keep the model manageable, then test whether that percentage holds at different volume levels. Gross margin, revenue minus COGS, tells you how much is left to cover your fixed overheads before the business makes any profit.

Operating expenses come next. List every fixed overhead: salaries, rent, insurance, marketing spend, software licences, professional fees, and bank charges. Separate fixed costs from variable costs, because that distinction is critical for break-even analysis. Don’t omit once-off launch costs in Year 1. Setup expenses, legal fees, branding costs, and initial equipment purchases are commonly left out of startup projections, which creates an artificially optimistic Year 1 profit figure that funders will immediately distrust.

Best Practices for Projecting Operating Expenses in a New Venture

Operating-expense projections should be built from the resources required to run the business rather than estimated as an arbitrary percentage of revenue.

Start by separating costs into three categories:

Fixed operating expenses remain relatively stable regardless of short-term sales volumes. Examples include rent, permanent salaries, insurance, accounting fees and software subscriptions.

Variable operating expenses change with activity. Examples may include commissions, delivery costs, transaction fees and certain consumables.

Step costs remain fixed until the business reaches a particular level of activity and then increase. A good example is management headcount. One operations manager may support the first facility, but a second may be required when another branch opens.

For startups, build payroll employee by employee or role by role. Specify the starting month, salary, statutory or employment-related costs where applicable, and expected annual increases.

Do the same for major expenses.

This produces a forecast that says:

“We need a second salesperson from Month 7 because monthly customer acquisitions exceed the capacity of the first.”

rather than:

“Payroll increases by 10% because the spreadsheet needed a number.”

How to Structure Financial Projections for a Startup Business Plan

Startup projections require special treatment because historical financial information may be limited or nonexistent.

The model therefore depends more heavily on operating assumptions and should clearly separate the startup phase from normal operations.

Essential Components of Financial Projections for a Startup Business Plan

A startup financial model should normally include:

1. Pre-launch expenditure – professional fees, development costs, deposits, licences and setup costs.
2. Capital expenditure – equipment, vehicles, technology and other required assets.
3. Opening funding – founder capital, investor equity, loans and grants.
4. Sales ramp-up – realistic customer or production growth rather than immediate full capacity.
5. Gross margins – based on real pricing and direct-cost assumptions.
6. Staffing schedule – when each employee or role is actually required.
7. Operating expenses – including launch and recurring overheads.
8. Working capital – particularly stock, debtors and creditors.
9. Monthly cash flow – to identify the maximum cash deficit.
10. Break-even – both operating and cash break-even where useful.
11. Future funding requirements – if the first funding round does not take the business to self-sufficiency.
12. Downside scenario – to show what happens if customer acquisition or revenue develops more slowly.

One of the most useful outputs for a startup is the maximum funding requirement. This is not necessarily the amount spent on Day 1. It is the largest cumulative cash deficit before the business begins financing itself through operations.

That number can be substantially higher than the startup’s equipment budget.

Why Profit is not Cash: Constructing the Cash Flow Statement

This is the single biggest misconception I encounter in business plan financial modelling, and it confused me too when I first started working in this field. A business can be profitable on paper and simultaneously run out of money. The income statement and the cash flow statement measure different things, and confusing one for the other is a fast route to a rejected funding application.

Here’s a simple example. Your business invoices R100,000 in January. The income statement records that as January revenue. But your clients pay on 60-day terms, so the cash doesn’t arrive until March. Meanwhile, your supplier demands payment in February. On paper, you’re profitable. In your bank account, you’re short. This timing gap is exactly what the cash flow statement captures, and it’s why lenders care more about your cash flow projections than your profit figures.

For an integrated three-statement model, the cash-flow statement can be constructed using the indirect method. Start with net income from the income statement. Add back depreciation and amortisation, because these are non-cash charges that reduced your profit without leaving your bank account. Adjust for working capital movements: an increase in accounts receivable uses cash (customers owe you more but haven’t paid yet); an increase in accounts payable provides cash (you owe suppliers more but haven’t paid yet). Subtract capital expenditure. Add or subtract financing flows, including new debt, repayments, and equity injections.

The formula that must hold in every period is: opening cash plus operating cash flow plus investing cash flow plus financing cash flow equals closing cash. If it doesn’t, there is a linking error in the model that must be resolved before submission.

Model debtor days explicitly, month by month. If you invoice on 30-day terms but customers routinely pay in 60 days, your cash lags your revenue by a month. Annual projections will never show you this. Monthly projections will surface the exact months when your cash position turns negative, giving you the opportunity to plan for an overdraft facility or adjust your payment terms before the problem becomes a crisis.

Completing the Model with a Projected Balance Sheet

The balance sheet is the reconciliation layer of the three-statement model. It doesn’t need to be elaborate in a business plan context, but it must balance in every forecast period without exception. The fundamental equation is simple: total assets equal total liabilities plus total equity. If that equation breaks in any period, there is a linking error somewhere in the model.

For a business plan, keep the line items to the essential minimum. On the assets side: cash (pulled directly from the closing balance on the cash flow statement), accounts receivable, inventory, fixed assets net of accumulated depreciation, and any prepayments. On the liabilities side: accounts payable, short-term and long-term debt, and any deferred income. Equity comprises share capital plus retained earnings, and retained earnings accumulate net income from the income statement in each period, less any dividends paid.

The reconciliation check that matters most is the one between cash on the balance sheet and ending cash on the cash flow statement. They must be the same number. The second check is retained earnings: the closing balance in each period should equal the opening balance plus net income for that period. If either check fails, work backwards through the linking formulas before submitting the model to anyone. A broken balance sheet tells a funder that the model wasn’t built carefully, and that inference extends to every assumption behind it.

How to Create a Three-Statement Financial Model for a Business Plan

A three-statement financial model integrates the projected income statement, cash-flow statement and balance sheet so that a change in one part of the business automatically flows through the entire forecast.

A practical build sequence is:

1. Create the assumptions sheet.
2. Build the revenue forecast.
3. Build direct costs and gross profit.
4. Build payroll and operating expenses.
5. Create the capital-expenditure and depreciation schedule.
6. Model working capital, including debtors, inventory and creditors.
7. Add debt, equity and other funding.
8. Complete the projected income statement.
9. Build the cash-flow statement.
10. Complete the projected balance sheet.
11. Link retained earnings.
12. Check that cash agrees across statements.
13. Confirm that assets equal liabilities plus equity.
14. Calculate break-even and key financial ratios.
15. Add base, downside and upside scenarios.

The key word is integrated financial model.

If the user changes the selling price, the resulting change should flow through revenue, profit, tax, cash, retained earnings and ultimately the balance sheet without manually editing five different worksheets.

That is what turns Excel financial projections into a financial model rather than a collection of spreadsheets.

How Should Excel Financial Projections Be Structured?

Excel remains particularly useful for business-plan forecasting because assumptions, schedules, financial statements and scenarios can be linked within one transparent model.

Good Excel financial projections should follow several basic modelling disciplines:

• keep assumptions separate from formulas;
• avoid hard-coding assumptions repeatedly inside formulas;
• use consistent time periods across worksheets;
• link statements rather than retyping values;
• include reconciliation checks;
• separate historical results from forecasts;
• document important assumptions;
• avoid unnecessary complexity;
• build scenario switches where appropriate; and
• provide a clean summary dashboard.

The spreadsheet should also be usable by somebody other than the person who built it.

If changing one assumption requires a 20-minute explanation of which seven hidden cells must also be changed, the model is not particularly useful.

For relatively straightforward businesses, entrepreneurs can build their own model or start with a structured Excel financial model template. Complex funding structures, acquisitions, capital-intensive projects or institutional funding applications generally warrant more sophisticated financial modelling.

Break-Even Analysis and Scenario Planning: Stress-Testing your Financial Projections for a Business Plan

Once the three statements are complete and reconciled, run a break-even calculation. For a product business, break-even in units equals fixed costs divided by the contribution margin per unit, where contribution margin is price minus variable cost per unit. For a service business or when you want the answer in rand revenue, break-even revenue equals fixed costs divided by the gross margin percentage. This figure belongs explicitly in your business plan’s financial summary. It tells the funder the minimum revenue required for the business to cover its costs, and it shows that you understand your own cost structure.

Building scenarios is equally important. A base case uses your most realistic assumptions. A downside case tests what happens if revenue comes in 20 to 30% lower than expected, whether because of a slower ramp-up, higher-than-expected churn, or pricing pressure. You don’t need a completely separate model for each scenario. Toggle one or two key inputs, typically revenue growth rate and conversion rate, and show the resulting change in profit and cash. 

A downside scenario should test the variables capable of materially changing the business case. Depending on the business, these may include sales volumes, pricing, gross margins, operating costs, capital expenditure, collection periods, interest rates or implementation timing.

That is much stronger than prescribing a universal 20–30% revenue decline.

Investors specifically look for whether founders have stress-tested their own numbers. A projection that only works in the best case isn’t fundable. It’s a wish. The businesses that secure funding are the ones that can show a funder: “Even if things go slower than we expect, here’s why the model still holds.”

How to Customise the Financial Projections Format for Business Funding Applications

The underlying financial model can remain consistent across funding applications, but the outputs presented should reflect the decision being made by the particular capital provider.

Bank or Debt Funding

Emphasise:

• monthly cash flow;
• debt repayment schedule;
• debt-service capacity;
• liquidity;
• existing debt;
• security where relevant;
• working-capital requirements; and
• downside repayment capacity.

Development Finance Institution

Include the same commercial fundamentals, together with relevant institutional requirements such as:

• five-year projections where required;
• employment creation;
• capital investment;
• funding structure;
• commercial sustainability; and
• developmental outcomes.

For example, the IDC expressly requires five-year income statement, balance sheet, and cash flow forecasts, with monthly forecasts for the first year.

Equity or Investor Funding

Place greater emphasis on:

• revenue growth;
• gross margins;
• EBITDA;
• cash burn;
• runway;
• future funding rounds;
• scalability;
• return potential; and
• valuation drivers.

The financial statements remain the same financial system. What changes is the information the reader needs most prominently.

Presenting your Financial Projections for a Business Plan to a Lender or Investor

A full three-statement model is the engine. The financial summary is what the funder reads first. Your one-page summary should include the key headline numbers for each forecast year: total revenue, gross profit, EBITDA, net profit, and closing cash balance. Add the break-even revenue figure, the DSCR for bank applications, the total funding requirement, and the proposed repayment or return timeline. Include one short paragraph of narrative explaining the assumptions that drive the numbers. Funders read dozens of plans. The ones that present their numbers clearly, with a readable narrative that connects the assumptions to the outcomes, stand out immediately.

For simpler business models, building this yourself using a structured Excel template and the framework in this article is entirely achievable. The process is methodical rather than mysterious, and working through it yourself forces a level of clarity about your own business that no other exercise produces.

For applications to institutional funders such as the IDC, NEF or SEDFA (formerly SEFA), or for businesses with complex revenue streams, multiple product lines, or significant capital expenditure requirements, the model must be airtight. Assumptions must be rigorously sourced, statements must reconcile perfectly, and the model should calculate the financial ratios relevant to the funder’s assessment criteria and proposed funding structure.

At JTB Consulting, every business plan we deliver includes a bespoke, Excel-based three-statement financial model built from scratch to the client’s specific numbers, not a generic template with placeholder figures swapped out. Our financial modelling work is built to withstand the scrutiny of institutional funders, and our track record across more than 3,000 projects reflects the practical result of that approach.

Financial Projections for a Business Plan Checklist

Before including the forecasts in your business plan, confirm:

Revenue is driven by identifiable operating assumptions.

Pricing assumptions are documented.

Sales ramp-up is realistic.

Direct costs reconcile with projected activity.

Payroll reflects actual planned recruitment dates.

Fixed and variable operating expenses are separated where useful.

Startup and once-off costs are included.

Capital expenditure is included.

Depreciation is linked to capital assets.

Debtor, inventory and creditor assumptions are modelled.

Funding inflows are included.

Loan repayments and interest are correctly modelled.

The income statement is complete.

The cash-flow statement is complete.

The projected balance sheet balances.

Closing cash agrees between the cash-flow statement and balance sheet.

Break-even has been calculated.

Funding requirements are clearly identified.

A downside scenario has been tested.

Important assumptions are documented and traceable.

The summary presented in the business plan agrees with the Excel model.

If those twenty checks pass, you have something far more useful than a spreadsheet containing five years of optimistic percentages.

Frequently Asked Questions About Financial Projections for a Business Plan

How Can I Create Accurate Financial Projections for a Business Plan in South Africa?

Start with documented assumptions for pricing, sales volumes, costs, staffing, working capital, capital expenditure and funding. Use these assumptions to build an integrated projected income statement, cash flow statement, and balance sheet. For external funding applications, also check the specific projection period and reporting requirements of the intended South African funder.

What Are the Essential Components of Financial Projections for a Startup Business Plan?

Startup projections should include startup expenditure, funding, revenue ramp-up, cost of sales, operating expenses, payroll, capital expenditure, working capital, projected profit and loss, monthly cash flow, projected balance sheets, break-even analysis and downside scenarios.

How Do I Estimate Sales Revenue and Expenses for a Business Plan Financial Projection?

Estimate revenue from measurable drivers such as units sold, customers, prices, utilisation or billable hours. Estimate expenses from the resources actually required to deliver those sales, including direct costs, employees, premises, marketing, administration and other overheads.

What Is a Good Financial Projections Format?

A robust financial projections format separates assumptions, supporting schedules and financial outputs. It normally contains an assumptions sheet, revenue model, operating costs, working capital, capital expenditure, funding schedules, three financial statements, break-even analysis, scenarios and a summary dashboard.

How Should Financial Projections for a Startup Be Structured?

Startups should generally use monthly forecasting during the early period because cash requirements, sales ramp-up and recruitment occur unevenly. The model should show how much funding is required before the business can sustain itself from operating cash flow.

What Are Best Practices for Projecting Operating Expenses?

Project expenses from identifiable operating requirements rather than applying arbitrary percentages. Separate fixed, variable, and step costs; build payroll from actual positions and recruitment dates; and include one-off startup costs.

How Do I Customise Financial Projections for a Business Funding Application?

Start with the funder’s requirements. Debt funders tend to require strong visibility over cash flow and repayment capacity, while equity investors place greater emphasis on growth, margins, cash burn and potential returns. DFIs may require additional forecast periods or developmental outputs.

How Do I Create a Three-Statement Financial Model for a Business Plan?

Build the income statement, cash flow statement, and balance sheet as one linked model. Net income should feed retained earnings and cash flow; closing cash should flow to the balance sheet; debt and capital expenditure should affect all relevant statements; and the balance sheet must balance in every period.

Should Financial Projections Be Prepared in Excel?

Excel is widely suited to financial modelling because assumptions, calculations, statements and scenario analysis can be linked transparently. The tool matters less than whether the model is logically structured, internally consistent and auditable.

How Many Years of Financial Projections Should a Business Plan Include?

It depends on the purpose and funder. Five-year projections are common for institutional funding applications. The IDC specifically requires detailed five-year forecasts with monthly projections for the first 12 months.

Accurate Financial Projections Explain How the Business Works

The purpose of financial projections for a business plan is not to predict exactly what revenue will be in Year 4. Nobody can do that.

The purpose is to demonstrate that the economics of the business have been thought through logically.

A strong forecast shows how customers become revenue, how revenue becomes gross profit, how operating resources create expenses, how working capital affects cash, how funding supports growth and whether the business ultimately generates sufficient financial returns and cash flow to justify the investment.

Start with assumptions rather than desired outcomes. Build the revenue model. Forecast operating expenses. Model working capital and capital expenditure. Integrate the income statement, cash flow statement, and balance sheet. Check that everything reconciles. Calculate break-even. Then stress-test the assumptions.

If the Excel financial projections reveal a funding gap in Month 7, that is useful information.

Finding the gap before submitting the business plan gives you an opportunity to restructure the funding request.

Finding it after the money runs out is somewhat less convenient.

Need Professional Financial Projections for a Business Plan?

Established in 2006, JTB Consulting develops bespoke financial projections for business plans, integrated Excel financial models, feasibility studies, strategic business plans and company valuations for startups, SMEs, and established companies across South Africa and international markets.

Our financial models can incorporate detailed revenue assumptions, three-statement projections, working-capital modelling, funding schedules, break-even analysis, scenario and sensitivity testing, debt-service analysis and other financial metrics relevant to the business and intended funding application.

For entrepreneurs who prefer a ready-built model and want to complete their own projections, BestFinancialModels.com also provides editable Excel financial model templates across multiple industries.

Whether you are preparing projections for a startup, bank application, DFI submission, investor discussion or internal strategic decision, the objective is the same: build a financial model whose assumptions and outputs can withstand scrutiny.

JTB Consulting — Business planning, financial modelling and funding readiness since 2006.