Why You Need A Business Plan
Whether you are a start-up, ready to grow, or have been in business for years, investing time and focus
on creating a business plan is one of the most valuable activities a business can undertake.
A Business Plan acts as a roadmap for a business’s future and is essential if you are seeking to attract funding. Your Business Plan should reflect the current reality of your business, the potential of the business, the environment in which it operates, and your present and future goals. Defining your objectives and strategies to achieve your ultimate goals will help give you a sense control of your business and enable you to assess what’s working or indeed needs improving.
A well thought out and written business plan is crucial for securing finance for your business as it needs to convince lenders and investors that your business will be successful and profitable. The plan should include details of your financial forecasts, how much finance you will need and how you plan to raise these funds. Even if you’re not looking to raise finance, a business plan is fundamental in the development of any business for both the short and long-term.
Summary of key reasons a Business Plan is needed:
- Forces a full review of your business and outlines areas of focus
- Helps to manage business more effectively
- Supports growth and helps secure funding
- Provides Benchmarks for short and long-term
- Assist a strategic exit
Nindar Johal, Nachural Limited “By using Blue Sky Corporate Finance I gained an external view of our manufacturing business plan and a due diligence review of the plan before it was submitted to the bank. Blue Sky tested they key assumptions and presentation of the plan with me and highlighted points I had not fully considered. As a result of the advice and guidance given to us by Blue Sky we were able to present a very credible and robust business plan.”
Business Planning can seem overwhelming and time-consuming, but help and assistance is available from businesses, such as Blue Sky, who offer a comprehensive, unbiased service in business plan preparation.
So, why not contact our experienced team of advisors for a confidential, no obligation chat on how we can help you with the preparation of your Business Plan?