It's always a good idea to have a business plan.  Often people do this at the start of the financial year, but any planning time you can spare is going to help whatever the time of year.  What constitutes a good business plan and how can your accountant help you?

Here are 5 steps to writing a business plan which is aligned with your strategic vision and goals.

1. Be clear about the service or product that you are offering and include any new services or products which you are planning for the year ahead.
2. It’s important that your business plan includes your annual objectives, operational plans, sales, marketing and financial forecasts.
3. Keep your business plan short and to the point so that people take action, no one has time to read a lengthy document.
4. Who are the key stakeholders in your business, your Directors, employees, investors, etc? Make sure the business plan is written with them all in mind.
5. Make sure you have robust financial forecasts including a balance sheet and profit and loss account.

Often people think that a business plan is only needed if they are looking for external investment. If you are looking for extra funding, then you certainly do need a business plan. However, it is good practice to create one each year so that you can keep a clear focus on what needs to be achieved in the year ahead and it can help you set key performance targets to help you monitor progress.

We often help businesses with the financial forecasts as it can be very complicated pulling together all the financial information including historical data which can help with more accurate financial forecasts. We can also help with contingency planning if funding is required at any time.

If you would like any advice on writing a business plan, particularly the financial forecasts please do contact us by calling 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it..