Business Plans

"Failure to prepare is preparing to fail." - Benjamin Franklin

Why write a Business Plan?

A business plan is a road map of where your business is now and where you want it to grow to.

For new companies, your business plan can help you identify your goals and targets and help focus on how those goals are going to be met. It can show whether a business idea is likely to be profitable or where changes will need to be made tin order to succeed. Furthermore, it can act as a tool for securing investment funding, advice and support for your new venture.

For established businesses it will help detail how the areas of the business are to grow and should be viewed as a tool to facilitate the growth of the business rather than a container to constrict business activities.

Whilst there is no fixed format for a business plan it should include the following elements:

Description of the business

Financial Plans Including:

Income projections (Profit and Loss accounts)

Cash Flow analysis

Balance sheet

Marketing Plan

Next>> Business Plan Describing the business