The creation of a plan is essential before setting up any business venture and every successful business will review and adjust its plan regularly to ensure it continues to meet its needs and objectives, as well as to respond to economical changes.
A high quality plan can assist businesses to secure funding and will allow the business to measure success. It will cover:
- financial forecasts
A business plan has many functions, from securing external funding, to measuring success within your business.
The plan doesn’t only help during business setup; it is essential to continually review progress against objectives and targets and it can be used to identify key growth areas in order to create a road map to the next stages for your business.
Business Gateway provide a full ‘Business Planning’ section on their website to assist you with building your plan, which includes a template and a link to more business plan support. You can also download a business planning app to assist you on the move.
Visit the Business Gateway business plan section.