A business plan should demonstrate how much money you need, why you need it and when your investor is likely to get repaid. It should instil confidence in your business and management skills to convince your bank, financier or investors to lend you the necessary funds. To raise substantial capital for your privately held business your business plan must be clear, complete and realistic. A poorly prepared business plan will impact on your chances of receiving the funding.
We believe every business should start with the end in mind which is why we are so pedantic about helping clients with their business structure, accounting software selection, website and marketing plans. This is also important from a business planning perspective because you need to consider the financial outcomes you would like to achieve from the start. Using some financial modelling tools we can prepare ‘what ifs’ calculations so you know your best and worst case scenarios but without knowing your financial goals you are missing a key driver for your business plan.
Basic elements of a Business Plan:
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