You wouldn’t begin to build a house without a plan, so why would you start a new business, or run an existing business without one?
A basic business plan will start the ball rolling and get you to think about how you will run your business and what challenges you are likely to face. This is relevant whether you are just about to start out or are looking to move an existing business forward.
It is a good idea to review your business plan each year, examining and developing all aspects. It will define your business, identify your goals and may also help you get funding if you need to borrow money. A good business plan will also work to reassure a lender.
Our dedicated team has the skills and experience to help you produce and develop an effective business plan, which may also include the preparation of profit and cash flow forecasts. Your business plan will cover a range of areas, including the:
- Services or products your business will provide
- Extent of the market for your service/ product
- Main competition and what advantages you will have over them
- Price of your product/service
- Experience within the product/ service area
- SWOT Analysis
Finally, remember the old saying of ‘fail to plan and plan to fail’, which is certainly true in business.
Contact: Martin Swain