The Purpose of Planning
Surveys have indicated that less than ten per cent of all small businesses have any sort of formal business plan. In fact, most people spend more time planning their annual holidays than they spend planning their business! That's a bit scary, especially when you consider what is usually at stake.
Why you need a Business Plan
If your business venture requires finance or additional capital, you will need to prepare a comprehensive business plan before approaching a bank or financial investors. Most will not even consider advancing money without one. The more detail and accuracy you can project in your plan, the more chance you will have of securing your loan.
Please Note: Even if you do not require funding for your business, you will still find it helpful to prepare a formal business plan. A formal business plan will help you to systemise and formalise procedures, which will assist you to grow and develop your business. It will also be a big help if you decide to sell your business at some stage in the future.
Planning for the future
Your Business Plan should be your road map for the future growth of your business.
It's also a great way of checking the overall viability of a new business venture or planning for long term growth and even your ultimate exit or succession. A well prepared business plan will also add value to your business and help you stay on track.
Easy to use and easy to follow
Preparing a practical and comprehensive business plan is not an easy task and it can be quite daunting. To help you through the process, we have prepared this special Business Planning Kit. The kit contains all the things you need to create both a practical, directional guide for the future of your business plus a formal business plan suitable to raise finance or attract investors. You will also gain valuable insights into the strengths and weaknesses of your business and its ongoing viability.
Getting professional help
You could, of course, engage the assistance of a consultant or adviser (such as your accountant) to help you. This is highly recommended however, this sort of help is not cheap. Plus, even if you do engage professional help, you will save you a lot of time and money by working through the exercises in the Business Planning Kit first.
Whether you're a first time start up or a seasoned business veteran — you will find the Business Planning Kit tremendously helpful in getting you focused and keeping you on track.