Happy Accountant: Accounting Blog & Online Accountant

*A business plan should always include an analysis and forecast of the company’s financial position.  It will detail things such as: start up costs personal investment additional sources of finance cashflow forecast profit & loss forecasts balance sheet forecasts historical financial information (if the business is an existing one rather than a start up) Just [read more]

*This is the area where, if you haven’t already covered it elsewhere, you can demonstrate your deep understanding of the business, marketing and sales, as well as areas such as capital expenditure, recruitment, statutory compliance and timing (as it applies to your business). *

*If you are a manufacturer, you need to detail how you are going to produce the goods, literally.  For example: what sort of equipment is required?  Where will manufacturing take place?  What are the costs involved?  What are your timescales? Where will your materials come from? Who are your suppliers? This section also encompasses things [read more]

*This section of the business plan assesses the market that you are pitching for.  It covers things like: price competitors where the gap in the market is assumed to be substitute products or services Your unique selling point How will you react to your competitors legal protection (such as patents, copyright registration) market share marketing [read more]

*This section outlines the key people who will be responsible for delivering the plan.  These might be directors, non-executive directors, managers or employees. It normally includes a brief CV for each person demonstrating their relevant experience for their role in the plan.  The purpose is to show that the team is competent and experienced.  It is [read more]

*If  there is a history to either the company, the idea or product, it could also be included in the business plan.  It might detail the company’s past performance, successes or other notable information. *

*This sums up, the key elements of the business, and may include: what the product or service is the market it is aimed at why they will buy it what the result will be key reasons for success barriers to entry to the market risks and how they will be managed strategic objectives potential for growth [read more]