The number one stumbling block for a Canadian bioenergy project is a lack of adequate financing. Previously, I’ve discussed the importance of a vision and a functioning team, but without adequate equity and capital investment, the dream could die. Credit strength questions are often left until the end of the project, with the hope that it will come together somehow. I’ve seen elaborate business plans without even a simple pro forma income and expense spreadsheet. Often there is no construction budget, cash flow timeline, or detailed breakdown of income sources. To launch a successful bioenergy project, you must start with a solid financial plan.