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Business Plan
A business plan is a document that outlines how a business can allocates its often scarce resources to ensure its short term survival and its long term growth.
A business plan addresses three main phases of business development:
Establishment:Developing products and services, finding and keeping customers
Consolidation:Sourcing competent staff, developing and maintaining quality standards and financial controls
Growth:Attracting funding with full accountability to creditors and investors
It is the third phase, namely attracting funding, which is generally the key objective of a business plan. Within this context a business plan will normally feature the following:
Executive Summary:
Table of contents and key points of the business plan
Organisation Background:
When business established
Current accountant, solicitors and bankers
Staff including qualifications and experience
Share holders and directors for trading companies
Trustess for non-profit organisations
Existing obligations and liabilities
Past Performance
Summary of at least 3 years of performance
Notable successes
Lessons learnt from any failures
Benchmark quality standards achieved
Current Activities
Current goods and services
Existing client base
Objectives and strategies
Market Forces
Market size and any projected growth
Competition
Distribution and supply
Goods and service development
Unique selling points and competitive edges
Performance Measures and Reporting
Financial controls
Risk assessment and contingency planning
Staff quality standard monitoring
Client patron, satisfication and performance assessment
Assets and Security
Bank account balances and other liquid assets
Fixed assets
Sources of income from other creditors and investors
Funding Sought and Conditions
How much
For what
When
Spending forecasts and budgets
Expected Outputs and When
New goods and services
Improvement in exisitng goods and services
Increase in client base
Increase in profits
Any loan repayments to creditors
Projected highlights
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