Business Planning

Whether you are a start up or long established business it is essential to have a realistic, working business plan.

A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts.

It has many functions, from securing external funding to measuring success within your business. Break even analysis and flexed financial forecasts can also be a vital tool when making key business decisions.

A good business plan will contain:

• Executive summary – who you are, what you sell, who you sell to and a financial overview
• Company overview – history, where you are today, management team, CVs
• Products and services – more detailed than in the executive summary with details of competitors
• Target market – market overview and market needs
• Strategy and implementation – including a marketing plan and key milestones
• Financial plan – sales forecast, personnel plan, budgets, assumptions made
• Historic financial information – accounts etc
• Financial projections – profit and loss, balance sheet, cash forecasts – including worst case scenario
• Break even analysis – what sales need to be achieved to break even?
• Funding requirement – if plan is being used to support funding application
• Quotes – if plan includes capital expenditure