Business plans can be put in place for a wide variety of businesses in the public and private sector in the UK and of course elsewhere. Below, we typically discuss the fundamentals of running any business from start-up to over 500 employees. But if you have more specific questions about how best to do this, please do add a comment with your query.
The list below describes the components of a business plan as defined by the UK Government. It will also help clarify some of the details if this was helpful.
* Executive summary – to capture the reader’s attention each of the pages must contain a catchy and compelling headline which ties in the plan theme to ensure the reader will continue to read
* A synopsis – this is usually done in the first eight or nine pages and introduces the business to the rest of the plan
* A summary of the environment in which the business operates – a overview of the business in terms of its activities, geographical location, industry, etc – this section must include size, statistics and demographics of the economy, marketing strategy used, major competitors, most recent public opinion and competition
* Market analysis – this section in the business plan is best done in the later chapters but it must present some element of study and research to obtain conclusions
* Description of the business – its aim or the reason for going into it, how the business will be developed, the range of its products and services, members of the management team, the products or services it is offering, the market, size and market potential
* Financial details – any investors and the number and size of the businesses are usually included here
* Company description – this must include the following:
– the corporation’s business activity, its aims and goals for the sake of strengthening its capacity to function effectively
– the historical background of the company
– the actual structure of the company including its production function, sales function, human resources function, administration function, etc
– any expansions that the company might undertake over time
– the title of director, the other officers and a brief profile
* Business operations – basically it describes how the business can be managed, ran or manufactured internally and how its services will be introducing and presenting the business to the major markets.
* Products and services – what are the range and quality of the business’ offerings
* Finance – a detailed explanation of what the business borrowing arrangements are. The levels of borrowing would be in accordance to your company’s capabilities and needs
* Management details – the plans for existing and new managers who are going to operate the business.
* Financial details – your business will be able to meet its monetary commitments and both internally and externally the bank or funding agency will gladly offer assistance in terms of loan capital. This total outline must lock in at least a six month projection for the business. An appropriate presentation of your plans in a set of financial statements is one of the best way to show a potential lender or financing source that your business is run in the right way
I hope this article will guarantee your financier, broker or funding source that you have a well thought through plan which demonstrates your business risk taking capabilities. Therefore it all draws to a cut throat conclusion when any lender or finance source begins to respect your plan and will happily step in and author a finance to best match your business’ needs.
