BUSINESS PLANNING

Your business plan describes your business, its objectives, strategies, the market you are in and your financial forecasts.  It is used for a number of reasons, from securing external funding to measuring internally how successful your business is.  Manchester accountants and business advisers, Kay Johnson Gee can help you draw up a business plan and advise you on its potential.

The content of your business plan really depends upon how you will be using your business plan and your audience.  For instance, if you are looking for external funding of your business the financial forecasts and the detailed assumptions behind those forecasts will be crucial.  A typical business plan will include the following elements:

The business overview – who you are, what you plan to sell or offer, why and to whom.

Marketing and sales strategy – why will people buy from you, why are you different to your competitors, how you will communicate with your potential customers and convert them.

The team – your credentials and the kind of people you will recruit to work with you.

The operations – where will you work from, the IT and other assets you will need, and your management information systems.

Financial forecasts – this takes everything you have said in the rest of the plan and translates it into figures.  Your financial forecast should include:

• Sales forecast
• Cashflow statements
• Profit and loss forecast
• Risk analysis

Kay Johnson Gee’s specialist business advisers can take your business plan and advise you on the financial and tax implications of starting and running your business.  This advice can significantly affect your business plan.