A Business Plan is a document that describes your core business objectives and how you intend to achieve them over a set period of time. It is designed to help you, and others, understand how you plan to generate money and make your business sustainable. A business plan often includes information about your goals, strategies, marketing & sales plans and financial forecasts.
A business plan is key if you're thinking of starting out in business, but it can also be an important tool for many established organisations. Periodic review of an established business plan can help you see what goals have been achieved, what changes need to be made, or what new directions your company should take to ensure continued growth.
If you are looking to secure investment or a loan for your Business, then you would normally need to provide a business plan as part of your portfolio of information. Any prospective investor will want to see the true potential of your Business clearly laid out in hard facts and numbers and a business plan is one of the best ways to provide this information.
While having a business plan is not necessarily a guarantee of success, it can indicate that the entrepreneur who completes a competent and detailed business plan is more likely to be the type of person who has the necessary skill-set to run a successful Business.
Although writing a business plan can prove to be rather time-consuming, a detailed and considered plan is deemed essential if you want to have a successful business that's going to succeed beyond the start up phase.
We can help
Using our decades of Industry experience, Barnstone Accountancy is well placed to assist with your Business planning requirements. Whether it’s general advice on how best to develop your plan or you want us to produce a detailed and in-depth document with you just providing the basic data, Barnstone is here to do as much or as little as you need.
If your Business doesn't have a business plan, please get in touch by pressing the “Contact Us” button and we can discuss how to best present your business.
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