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Why do you need a business plan?
Producing the business plan is a critical stage in any new business venture. It is a comprehensive statement of your business objectives and how you intend to achieve them. A business plan is essential if you intend to borrow money.
There are no hard and fast rules about how to produce your plan - it depends on the nature of the proposed business. Fundamentally, it should include the following
An executive summary - this is an overview of the business you want to start. Typically, it should fit onto no more than 2 sides of A4. Many lenders and investors make judgments about your business based on this section of the plan alone. It is also a good discipline to
A short description of the business opportunity - who you are, what you plan to sell or offer, why and to whom.
Your marketing and sales strategy - why you think people will buy what you want to sell and how you plan to sell to them. This is probably the most important section of any plan.
Your management team and personnel - your credentials and the people you plan to recruit to work with you.
Your operations - your premises, production facilities, your management information systems and IT.
Financial forecasts - this section translates everything you have said in the previous sections into numbers. Produce 3 year profit and loss and cash forecasts showing when any loans will be repaid.
To discuss a project or for more information call 0870 240 3139 or submit the form on Contact Us. |
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