Business advisory

BUSINESS PLAN                                                                            

The FinLab team believe that regardless of the sector in which the company is operating, its growth is dependent on the company’s competence. In order to achieve set goals, this competence should preferably be collated in a structured and considered business plan.

In accordance with the target audience for the business plan, it can be divided into two categories:

  • A business plan for the company’s internal purposes, in order to set the company’s growth goals, to understand the resources it requires to attain its objectives and check the progress of the project. .  
  • A business plan for external purposes – for submission to potential investors, banks, risk capital funds, the LIAA (the Investment and Development Agency of Latvia) and other institutions, in order to introduce business partners to the company and the viability of developed business plan.

The FinLab team has accrued significant experience in the development of business plans. The plans prepared include the following important sections:  

  • An overview of the business
  • A description and analysis of the company’s existing products, situation, assets, liabilities and profitability
  • The situation of the competition and market
  • A description of the planned operations and the rationale for them
  • Financial forecasts and future growth prospects
  • And other important aspects

FINANCE CALCULATIONS                                                           

People tend to say that not everything can be appraised in numbers, FinLab disagrees. In our opinion, everything single thing in business can be expressed in terms of arguments based on calculations.

In order to create a financial growth model corresponding to your business, you have to deal with a diverse range of complex calculations, which should preferably be entrusted to experts, who deal with them on a daily basis and have accrued significant experience performing them, thus saving the company’s management time and enabling it to avoid potential errors.

The FinLab team will help you to prepare justified and reasoned financial calculations, based on the company’s historical operations, management information, the market situation and future growth prospects, in order to consult the company on its attained results, as well as to offer valuable information facilitating the company’s future growth.  

FinLab offers the following most popular financial calculations:

  • Product or service cost price calculations
  • Preparation of short-term and long-term financial forecasts
  • Analysis of the sensitivity of financial forecasts
  • Analysis of cost reduction options
  • Return on investment calculations
  • Calculations of required working capital
  • Credit worthiness calculations
  • And other financial calculations

BUSINESS MODEL DEVELOPMENT                                           

In business, changes regularly occur to which a company must be able to respond dynamically, in order to consolidate its competitiveness and be able to utilise the advantages offered by the market.  

This can be achieved through the development of a business model corresponding to the business, including all commercial and financial aspects and driving forces.  

FinLab believes that the development of a business model should be entrusted to professionals with extensive experience, because this is the only way to avoid uncertain threats and errors that could disrupt the attainment of the set goals and the successful growth of the business. 

FinLab's professionals will provide the following services:

  • Development of a business model corresponding to the business
  • Definition and analysis of potential clients/suppliers
  • Market research, product and service profitability analysis
  • Operational planning and forecasting
  • Financial calculations and modelling
  • Determination of the potential price and/or prime cost of the product or service

INDUSTRY AND MARKET RESEARCH                                        

The economic situation nationally, in Europe and globally is continually changing, accordingly, the company’s management must be informed about the latest trends in the relevant industry, in order to promptly respond to factors unfavourable to the business or to be able to take advantage of the possibilities offered by the market.  

The experience of the FinLab teams proves that extensive knowledge of business driving forces, the environment, market, competitors and clients forms the basis for a successful business. The knowledge of the FinLab team will allow companies to ascertain the possibilities and potential of the industry, as well as to identify potential threats, which could have a negative impact on the successful operation of the company

FinLab’s analysts will objectively conduct:

  • A full-scale industry due diligence
  • Analysis of market capacity, industry driving forces and its interaction
  • Analysis of industry growth trends
  • Analysis of the level of competition
  • analysis of the prices of the products and services and business models of the most significant competitors
  • an overview of competitors’ growth trends and possible competitive changes in the future