What to include in your financial projections
State your assumptions explicitly
Every projection rests on assumptions, about revenue growth, cost stability, grant renewal, and customer numbers. List them clearly and separately from the numbers so an investor can interrogate the logic rather than the figures.
Include a disclaimer
Projections are forward-looking and inherently uncertain. A brief disclaimer, that figures are based on current information and stated assumptions, and do not constitute a guarantee of performance, protects you legally and sets appropriate expectations.
Show a realistic range
Where possible, include a base case and a downside case. Showing both tells investors you have thought carefully about what could go wrong, not just what you hope will go right.
Separate revenue streams
If your income comes from multiple sources, grants, earned revenue, contracts, show each as a separate line. Investors want to know which revenue is reliable, which repeats each year, and which depends on factors outside your control.
Download the tool
The Financial Projections Tool is available to download below. Use it to structure your financial projections before sharing them with a potential investor.
Excel spreadsheet · Downloads immediately