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 strategy. Show all posts
Showing posts with label strategy. Show all posts
Friday, 10 July 2009
Monday, 6 July 2009
Having a business plan, is key to ensuring that your business ends up being how you want it to be
Are you a small business struggling to complete a business plan in order to run your business or required by your bank as a condition of a loan?
Or maybe you are a larger, mature business looking for some help with some strategic business planning?
You wouldn’t try and climb a mountain without being prepared (map, compass, equipment, food drink, etc) so why would you start or run a business without knowing where you are going?
Whatever your planning need – you have come to the right place!
What does a business plan do?
* Gets the ideas from your head onto paper
* Gives you clarity and focus for your business
* Allows you to budget and manage your cash flow
* Helps you identify your products, services and the market
What’s in a business plan?
* Vision – your future aspirations
* Mission – what you do for your clients
* Objectives – defined targets for your business
* Strategies – how are you going to get there
* Plans & Actions – what you are going to do to successfully achieve it
A working business plan need not cost the earth or take weeks to develop. The UKBA™ can do this interactively with the business owner in less than a day at a cost of £600 or less! - This is less than you would pay for a plumber or for a garage to repair your car and is certainly more cost effective than your accountant!
Find out more about business planning: http://ukba.co.uk/index.php?option=com_content&task=view&id=25&Itemid=40
www.ukba.co.uk
Or maybe you are a larger, mature business looking for some help with some strategic business planning?
You wouldn’t try and climb a mountain without being prepared (map, compass, equipment, food drink, etc) so why would you start or run a business without knowing where you are going?
Whatever your planning need – you have come to the right place!
What does a business plan do?
* Gets the ideas from your head onto paper
* Gives you clarity and focus for your business
* Allows you to budget and manage your cash flow
* Helps you identify your products, services and the market
What’s in a business plan?
* Vision – your future aspirations
* Mission – what you do for your clients
* Objectives – defined targets for your business
* Strategies – how are you going to get there
* Plans & Actions – what you are going to do to successfully achieve it
A working business plan need not cost the earth or take weeks to develop. The UKBA™ can do this interactively with the business owner in less than a day at a cost of £600 or less! - This is less than you would pay for a plumber or for a garage to repair your car and is certainly more cost effective than your accountant!
Find out more about business planning: http://ukba.co.uk/index.php?option=com_content&task=view&id=25&Itemid=40
www.ukba.co.uk
Friday, 20 February 2009
Survive the Downturn - Plan Ahead
Extract from ICAEW report: 8 Ways To Survive The Downturn
Find out how taking a long-term view can help your business survive the downturn.
It is all too easy to focus on quick remedies at the expense of the long-term view.
As well as concentrating on the immediate challenges you face, revisit your growth plans and strategy: are your assumptions still valid?
Prepare contingency plans
Consider a number of different scenarios:
* What are your options to take advantage of any strategic opportunities that arise?
* What steps do you need to take now to ensure you are well positioned to take advantage of the economic recovery when it comes?
Ensure that you have contingency plans in place in each case.
Review new and existing markets
Now is also a good time to review new as well as existing markets. Where are your key markets and customers, now and in the future?
Be prepared to examine these critically. Are you reliant on a major company or market? Are any of these at risk?
You may be unable to do anything in the short term but an over reliance on a major customer can threaten the viability of the business. Regularly obtain credit reports and get feedback from staff in contact with them.
Consider international and global markets which may present new opportunities.
Think about your competitors
Also, think about how your competitors are faring: how are they likely to respond to the current crisis? Does this present an opportunity for you?
Collect information about your competitors from staff, suppliers and customers: it might help to identify potential opportunities.
Source ICAEW - full report can be downloaded by clicking here.
Find out how taking a long-term view can help your business survive the downturn.
It is all too easy to focus on quick remedies at the expense of the long-term view.
As well as concentrating on the immediate challenges you face, revisit your growth plans and strategy: are your assumptions still valid?
Prepare contingency plans
Consider a number of different scenarios:
* What are your options to take advantage of any strategic opportunities that arise?
* What steps do you need to take now to ensure you are well positioned to take advantage of the economic recovery when it comes?
Ensure that you have contingency plans in place in each case.
Review new and existing markets
Now is also a good time to review new as well as existing markets. Where are your key markets and customers, now and in the future?
Be prepared to examine these critically. Are you reliant on a major company or market? Are any of these at risk?
You may be unable to do anything in the short term but an over reliance on a major customer can threaten the viability of the business. Regularly obtain credit reports and get feedback from staff in contact with them.
Consider international and global markets which may present new opportunities.
Think about your competitors
Also, think about how your competitors are faring: how are they likely to respond to the current crisis? Does this present an opportunity for you?
Collect information about your competitors from staff, suppliers and customers: it might help to identify potential opportunities.
Source ICAEW - full report can be downloaded by clicking here.
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