Financial planning is an ongoing process that helps businesses make informed decisions to meet their financial goals. It involves creating and managing budgets, analyzing financial performance and risk, tracking investments, and setting strategies to ensure sound financial stability. By assessing a company’s current position, financial planning can identify areas of strength or weakness and provide guidance to decision makers on how best to proceed in meeting their goals. With careful analysis and a strategic approach, businesses can secure their future by improving cash flow, reducing costs, and increasing profits.