How to add your assumptions

TranscriptLink to this section

"In the last clip, we walked you through the template for your forecasted figures. Now let's take a closer look at the assumptions tab [video is displaying the ‘assumptions’ tab which is the third tab in the worksheet]. This is where you explain how you arrived at those figures {video is displaying examples of how assumptions may be written]. Your assumptions should be clear and realistic. This is your chance to show us the thinking behind your forecast, whether it's based on past performance, market research, or data insights.

So for income, you could tell us about the grants you expect to receive. You could say whether you've applied yet and the likelihood of success. You could also tell us about sales volumes and pricing strategies. Include real examples if you can.

For expenditure, you could explain planned hires, for instance. You could describe the role or roles, when and why they're needed, seasonal costs, what changes throughout the year, and any expected changes in rental services. These lists are not exhaustive, so they will just be applicable to your venture.

So having these assumptions helps us to understand how realistic your forecast is and how well you've planned for what to head.

Before you submit your application.

Before you submit, make sure to double check your figures. Use clear, realistic assumptions. Don't worry if a month is incomplete, just explain it in the Assumptions tab. Label each column with the correct month and year. This is essential for us to assess your application and please include your balance brought forward in the last 12 months worksheet.

If you're still unsure, don't hesitate to reach out for support. Thank you for watching and good luck with your application."