Producing a business plan offers an excellent opportunity to consider all the facets of a business or a project, testing feasibility and providing greater confidence in decision-making. It will also identify future financing needs and is usually a necessary step in raising external finance.
It stems from the strategic planning process which is the evaluation of a business’s competitive advantage and opportunities. The business plan will develop in more detail the broad action points derived from your strategic planning, establishing corporate goals, setting objectives, evaluating the operating environment and producing ways to measure their successful achievement.
A business plan can be a useful ongoing tool, as it can be used to measure progress as well as to communicate between management, staff and existing investors/bankers. To achieve this it must be kept up to date as the business moves through different stages, from start-up to rapid growth and maturity. A company’s strategy must also change along with its objectives.
The brochure attached focuses on the necessary steps to produce a business plan for the purposes of raising finance, giving guidance on what to include in, and how to present, the plan. It also incorporates tips which are derived from Ernst & Young’s substantial experience in assisting a wide range of clients to produce business plans for many different reasons.>>> READ MORE at: