Business Plans
What is a business plan?
A business plan is a means of helping you to clarify your thoughts about your proposed business and how realistically you can get it off the ground.
Why is a business plan important?
Well a business plan forms a basis for you to state your case when applying for a loan.
What should I include in a business plan?
A business plan needs to illustrate what you're selling and what you're market is. In other words the purpose of your business, where you fit in and where you differ with regards to the competition. How you're going to let people know you've arrived for your marketing strategy and what you need to get your business off the ground. In other words, your start up needs.
Is there anything else to consider?
Well, just to consider about people. It could be worth giving a little thumbnail sketch about people other than yourself that is going to be involved in the business. For example, if you intend to take on a part-time assistant. Of course, there are bound to be certain gray areas. You can't predict everything that is going to happen, but it might be worth considering the peaks and troughs during the trading year and perhaps how seasonal trends will affect your business.
Where can I go for help with my business plan?
Well your accountant will be a great help to you in this exercise. His or her experience of small business can highlight particular areas that you need to think about and include in your Business Plan. Another source of information could well be again "Business Link". Have a look at their Web site and you can find out details of where to find you nearest office.
