Proper balance sheet is important for financing – CA Prasanna

Aurangabad, Aug 24:

Balance sheet is a mirror of business, because both your liabilities and your assets are clearly visible through the balance sheet. Investors or banks determine your eligibility for financing on the basis of balance sheet, so if you want to get funds for a start-up, you need to have financial discipline from the beginning, said CA Prasanna Pangam.

He was speaking in a webinar jointly organised by the Marathwada Accelerator for Growth and Incubation Council (MAGIC) and Deogiri Engineering College on Monday. Speaking on the subject, 'Finance for start-ups and implementation of Business Plan', he said, Working capital is the most important factor for a business as it affects the entire business chain. Therefore, the planning of the money coming and going out while preparing the project report needs to be done in the same precise manner after starting the business. If the balance sheet has flaws, the financing for the business will be hampered as the credit of the business to the bank or the investor will be reduced. He also gave detailed information about the government's start-up scheme. In the earlier session, he gave guidance on the basics and directions of creating a business plan. He also gave detailed information about the government's start-up scheme. Magic CEO Rohit Aute, principal Ulhas Shiurkar, Rajendra Shinde, Yogesh Tawde and nearly 100 participants participated in the webinar.