A business plan is essential for the success of any business without out it, you will struggle to meet your business goals.
Business Plan defined:
A business plan is a document that describes your business, its objectives, strategies, target market and financial forecasts.
Each business will have its own unique plan. It outlines the business’ strategy for the next couple of years, and may be used to help support an application for business finance.
What to include in a business plan
A business plan provides direction. As a guide your plan should include the following sections:
- Business Summary
- Business History
- Industry and Market Analysis
- Strategies, Missions, Objectives and Milestones
- Management Structure
- Financials
Your business plan doesn’t end there. When you have finished writing your plan be sure to:
- Review it regularly – Business Planning is an ongoing activity. When your business undergoes changes, so should your plan. Keeping your plan up-to-date will ensure you are focused.
- Distribute your business plan – A business plan is a blueprint for how your business will run. Share the plan with employees so they can contribute and work towards the goals of the company.
Are you a business owner after more direction for your business plan?
If you’re in the process of writing a business plan or don’t know where to start contact The Quinn Group by submitting your enquiry here.
Alternatively, give us a call on 02 9223 9166 to arrange an appointment with one of our business accountants.
