Business Plans can also be an essential tool for businesses either at start up or in times of projected growth
A business idea needs a good business plan with comprehensive financial information and a strategy to test the commercial viability of the idea and help it become a reality.
Preparing your business plan
Most start-up businesses require funding and a business plan allows you to see if the idea can be profitable and allows enables potential lenders to understand your idea and how that concept will translate into a commercial reality.
Business plans need to be clear but should explain:
- The type of business you are going to be engaged in
- What services or products you will be offering
- How your business idea fits into the market place
- What the goals and objectives of the business will be
- What makes your product or service stand out (your unique selling points)
- A Profit & Loss forecast that will show how the idea will perform under differing scenarios
Whether producing the plan for yourself or to attract funding or investors in to your business, you will need to present a convincing image of how your business will look and make sure the assumptions contained in it are fully tested and realistic
At TaxSmart we know exactly what information is required and how it can be best presented to improve your chance of success when it comes to attracting funding for your business and give you the peace of mind that the plan has been prepared on sound financial principles.
If you are looking to create and present a credible and professional business plan, then talk to us. Our accountants can work with you to create a credible plan and help ensure your business starts off in the right manner.
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TaxSmart Accounting are an independent and forward thinking accountant with the flexibility to meet the client’s needs in a professional and personal manner. Outsource as much or as little of your bookkeeping and payroll needs as required with our fully personalised service. Contact us today for further information or a free consultation on how we can help your business.