FInAnCIAl STRATEGy 181 sector? How is it perceived in the financial markets? Is the rest of the sector `hungry' for finance? The sector demand and supply for finance will take account of the current and future economic conditions and of the perceived sector risk. Financial environment of the organization Consider the financial strength of the organization including the past few years' audited results, management accounts and financial projec- tions. What is the current cash position, what cash will be required in future years and where will it come from? What is the ideal gearing ratio? How does the financial environment within the organization fit within the broader financial environment of the industry sector? How will the markets and the banks respond to a request for additional funds? How well will the organization respond to the expectations of its financial providers?