The follow sections will be required in your business plan:
Introduction to Your Business Plan
- Who are the promoters & what is their previous experience?
- What is the proposal?
- Who are the personnel?
- When is the proposal launch timed for?
- What finance does the proposal require?
Main Body of Your Business Plan
Management of the Business
- Who will be the directors/principal of the business?
- Who are the owners?
- Who are the senior management?
- What other staff are required?
- Have you considered staff contracts of employment?
- How will the directors/senior management/staff be paid? i.e. salary, bonuses,commissions, etc.
- What skills and experience will your staff require?
- Will you need to provide ongoing training for your staff?
- Have you considered government incentive schemes for employers?
- Will you need periodic accounts or other information i.e.weekly/monthly/quarterly?
- To what extent will you computerise the operation?
- What personnel will be responsible for providing information?
- How reliable will the figures be?
- What have the results been to date?
- Have you carried out sensitivity analysis?
- Describe your product or service.
- What is the required quality of your product?
- Is there a range of products you wish to provide?
- What differentiates your products from your competitors?
- What is the pricing structure of the product(s)?
- How is this different from your competitors?
- Does your product follow a production process?
- What are the worker&machinery requirements?
- Have you considered the use of brands, patents, copyrights?
- What sort of image do you wish to project for your product? i.e. quality
- What image does your competition have?
- Do you have a logo for your product(s)?
- Do you know what business stationery you require and have you arranged to print this?
- Have you arranged for signs to be made for your business premises?
- Have you decided on a name for your business?
- Does this name conflict with another on the business names register?
- If you are trading as a limited company has this been formed?
- Is your chosen company name on the company registration office register already?
Market Trends & Promotion
- Have you done any market research for your business?
- What are your target markets?
- Are there any new products coming onto your target market?
- What range of products are currently being provided on your target market?
- Have you considered the use of a marketing consultant?
- How will you present&promote your product on the market?
- Who will be your main customers?
- What value of business would you anticipate from each of your main customers?
- Who are your contacts for each main customer?
- Who are your potential customers?
- How do you wish to attract new customers?
- Have you considered the use of internet business?
- What are your main strengths in the market?
- What do you feel gives you a competitive edge?
Terms of Trade
- Do you offer credit and what are your credit limits for your customers?
- What are your credit terms and how many days do customers have to settle your account?
- Do you have a debt collection policy to control your credit terms?
- Can you accept cash, cheque or credit card payments?
- What payment terms do you have with your suppliers?
- Do you offer discounts?
- What is the quality required of the product supply?
- How reliable are your suppliers?
- How available are your supplies?
- What is the product you need supply of?
- How will you distribute your product?
Advisors, Finance & Grants
- Who are your advisors i.e. financial, legal, technical&marketing?
- What is your capacity to raise finance?
- Who are the potential investors in your business i.e. banks/credit unions/government agencies etc?
- Have you appointed an accountant/tax advisor?
- What assets/activities will the finance be used for?
- Have you opened a business bank account and arranged for authorised cheque signatories?
- What are going to be your main costs?
- What turnover do you require to break even?
- What grant aid is available for your business i.e. for capital expenditure, labour costs, business development, etc.
- Have you considered the taxation framework for your business?
- Have you registered your business for VAT/PAYE/Business Tax?
- Have you considered the legal structure of your business i.e. sole trader/partnership or limited company?
- Have you considered the accounting system requirements for your business?
Health & Safety, Professional and Industry Standards
- Have you considered the requirements of the health&safety at work legislation?
- Is your business aware of professional or industry standards and is it regulated in any way?
- What square footage is required?
- Where do you wish to locate your business?
- What safety standards apply to your business?
- Have you considered government tax incentive schemes that may be available in certain geographical areas?
- Are you going to buy or lease the property?
- Have you appointed solicitors?
- Have you arranged for utilities to be connected?
- Have you considered whether to lease or buy your equipment?
- Have you considered the insurance cover for your business i.e. equipment, stock, premises, employers liability, public liability, loss of profits, etc?
- What are your personal strengths and weaknesses?
- What opportunities are available should you take a certain course of action?
- What are the main threats to your business if you do not take the opportunities available?
- What contingencies have been provided for?
- On balance what is the case for investment?
- List of main assumptions.
- Financial accounts (both historic and projected)
- Cashflow projections
- Sensitivity analysis
- Detail of premises
- Capital expenditure projections
- Staffing projections
- Management structure
- C.V.’s of key staff
- Schedule of grants