If you're thinking about starting your own business or need to evaluate your established business, a business plan is essential. Download our free business plan template to help define your goals and structure your ideas.
Business Plan Template
Why do you need a business plan?
A business template helps you to focus your thoughts and collate all the information you need to assess your business idea.
Our free business plan template provides you with a structured way to define your goals and plan for success.
Creating a business plan is useful when:
You want to start a new business
You have an established business that needs to evaluate and plan for success
You don’t have clear business objectives
You want to attract investment
Who should write a business plan?
Writing a business plan is a useful tool for any business, whether you are a sole trader or a large corporation. A business plan will help you guide your business in the early stages and keep you on track as you grow. A business plan is your roadmap to success.
Personal tax planning
9 reasons you need a business plan.
1. A business plan will define your business idea.
A clear definition of your business idea will indicate to potential investors, banks and to yourself that you have a clear idea, what you plan to do and how you will achieve it.
2. A business plan will define your milestones.
How do you measure success? Your business plan should clearly define your short and long term goals to help keep you on track.
3. A business plan will define your competitors.
It is essential to understand your competitors and identify what they do well and what you will do better in order to compete.
4. A business plan will define your customer.
In order to know if there is a market for your business you need to know your customer, what they want, what they are prepared to pay and how and where to talk to them in order to provide a desirable product or service and create an effective marketing campaign.
5. A business plan will assess the feasibility of your idea.
A business plan will help you analyse your idea, the size of the market, opportunities and financial feasibility.
6. A business plan will identify your financial requirements.
Your business plan combined with a cash flow forecast will help identify how much funding you will need to launch or grow your business, and when you will need it.
7. A business plan will attract investment or secure funding.
A well structured and in-depth business plan will help you illustrate and provide confidence to potential investors that you have a long term plan to make your business a success which is essential for raising capital.
8. A business plan will attract talent.
If you want to attract the best team a business plan will help prove to potential employees or directors that you are serious about your idea. A business plan will help inspire potential talent to join you and share your vision.
9. A business plan will help you monitor success & adapt.
A business plan with milestones and clear goals will allow you to monitor and compare results – this will give you an opportunity to identify what is working and what isn’t in order to see where you can make improvements, identify new opportunities to adjust your plan to adapt to changing economic conditions or events.
Ultimately a good business plan will document your business idea and strategy for growth. It will act as a road map for everyone in your business to help you create a effective plan for success and continued growth.
At Styles & Associates Accountancy we work with sole traders, start ups and established corporations providing full accountancy services at a fixed fee. If you are starting a new business download our free business plan template to help turn your vision into an action plan for success.
Our ‘Starting A Business’ guide may also support you in preparing your business plan.
Get in touch with our team today to take the next step in starting your business.
Moving our business to Styles & Associates made savings for us on our accounting fees, corporation tax, and personal tax.