The need for a business plan
In today’s modern world, producing a business plan is more essential than ever. If you only want to succeed, then committing your plans to paper is a very good start. Many businesses however wish to raise finance, and whether it’s a simple overdraft, through to looking for equity investment, a business plan is mandatory. It may even be prepared to a prescribed format, or on a potential lenders own template.
There are many elements to include, and most of them need to be present in some form, although the purpose of the plan might dictate some are more detailed than others.
You may need to prepare information about:
- A description of the business
- The products
- The people, including CV’s of the key personnel
- The market place
- Product pricing
- The marketing plan
- The competition
- Any premises
- Profit and loss forecasts
- Cash flow forecasts
- The exit strategy for the lenders
- The exit strategy for the owners
- What if’s
- What security is available
We offer a professional service producing these and may even be able to introduce you to funding sources.