Not everyone who starts and runs a business begins with a business plan, but it certainly helps to have one. If you are seeking funding from a venture capitalist, you will certainly need a comprehensive business plan that is well thought out and demonstrates sound business reasoning.
If you are approaching a banker for a loan for a start-up, you will require a business plan. If you have an existing business and are approaching a bank for capital to expand the business, they often will not require a business plan, but they may look more favourably on your application if you have one.
Reasons for writing a business plan include:
- Support a loan application
- Raise equity funding
- Define objectives and describe programs to achieve those objectives
- Create a regular business review and course correction process
- Define a new business
- Define agreements between partners
- Set a value on a business for sale or legal purposes
- Evaluate a new product line, promotion, or expansion
Read the full article here: http://ukba.co.uk/index.php?option=com_content&task=view&id=45#bp2
Download a free business plan template - click here.
Source: Palo Alto Business Software
www.ukba.co.uk
Showing posts with label business plan template. Show all posts
Showing posts with label business plan template. Show all posts
Friday, 10 July 2009
Wednesday, 8 July 2009
A business plan to obtain funds takes much longer and depends on the company size and complexity
For example, if you are looking to apply for venture capital or business angel funding, the 8 points of interest to a potential investor are:
:: What is the business?
:: What is the product/service?
:: What is the market place?
:: What is the future potential of the business?
:: What are the forecast profit and turnover figures?
:: What is the investment required?
:: What are the prospects for the Investor?
:: What is the exit strategy?
Also the executive summary is very important - 90%+ of all angels will only read the executive summary and if it does not include the 8 things that interest them there is a very strong likelihood that they will give up and start on reading the next plan.
The executive summary should be no more than 2 pages in length.
Free Business Plan Template: click here to access
www.ukba.co.uk
:: What is the business?
:: What is the product/service?
:: What is the market place?
:: What is the future potential of the business?
:: What are the forecast profit and turnover figures?
:: What is the investment required?
:: What are the prospects for the Investor?
:: What is the exit strategy?
Also the executive summary is very important - 90%+ of all angels will only read the executive summary and if it does not include the 8 things that interest them there is a very strong likelihood that they will give up and start on reading the next plan.
The executive summary should be no more than 2 pages in length.
Free Business Plan Template: click here to access
www.ukba.co.uk
Sunday, 8 March 2009
Business planning is more important than ever
Small businesses make up the vast majority of all businesses in the UK, yet fewer than half of these organisations have a plan in place should disaster strike. A number of high profile incidents, such as the recent extreme weather have brought sharply into focus the importance of business continuity plans for business of all sizes.
What classifies as a disaster for one company can be very different to another. If a small accountancy firm fails to back up its data, and has no plans for keeping that data secure in the event of a fire, it could be taken to court for failure to comply with data storage regulations affecting financial organisations.
Recent research carried out by the Confederation of British Industry (CBI) shows that, despite the fact that 60% of medium-sized firms currently use the internet in their supply chains, less than half of these have no security to cope with online attacks and no backup plans.
Read more here: http://www.newbusiness.co.uk/articles/business-continuity/business-planning-more-important-ever
Free Business Plan Template - click here.
What classifies as a disaster for one company can be very different to another. If a small accountancy firm fails to back up its data, and has no plans for keeping that data secure in the event of a fire, it could be taken to court for failure to comply with data storage regulations affecting financial organisations.
Recent research carried out by the Confederation of British Industry (CBI) shows that, despite the fact that 60% of medium-sized firms currently use the internet in their supply chains, less than half of these have no security to cope with online attacks and no backup plans.
Read more here: http://www.newbusiness.co.uk/articles/business-continuity/business-planning-more-important-ever
Free Business Plan Template - click here.
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