The completion of a Business Plan, and its on-going review, is a major requirement for ensuring Business success. Whether raising finance, marketing, budgeting, determining environmental or HR policies or controlling costs, it will allow business managers to manage effectively.
It is very important that quality time is given to constructing the plan and advice is taken from wherever possible to ensure that all potential opportunities or risks are considered. This should prepare the business for most eventualities and, ultimately, generate sound profits.
- Description of the business - brief overview of purpose of business and location.
- Evidence of demand for product / service - size and location of market, buying patterns, type of research carried out.
- Sales and Marketing - how you will promote your product / service, sales targets you've set, competition and how you will overcome it.
- Product / Service - description and its advantages (and disadvantages).
- Management - CV's, training needed, what are these people bringing into business?
- Financial forecasts - cash flow forecast, profit and loss, initial financial outlay.
- Your plan should contain the essential information required - not waffle. Try and tailor it to the needs of whoever is going to be looking at it. And remember, with financial predictions - best to be prudent - don't be over-optimistic!
To request a business plan template, please use our enquiry form.
There is other help available for start-up businesses in South Holland, please email us at economicdevelopment@sholland.gov.uk
