Successful business owners maintain that business planning should be a discipline for any well-run business to help identify and establish direction and strategy, focusing ideas and goals, determining what resources are available and required and providing a benchmark for future performance.
Business plans are also vital when a business has to raise finance. As an external document, it will be a tool for 'selling the business' therefore it must be accurate in language, grammar and business information, and presented in the most favourable manner. This can include relevant information on the company, such as financial information, its management and employees, strategies and the external market.
A fundamental element to the business plan is the financial projections, which support and numerically illustrate the wording contained within the business plan. Funders will be looking for a profit and loss account, balance sheet and cash flow projection for the short to medium future. This is a complex procedure, but Dains can help with the analytical input and extensive logic checks.
The complexity, technical content and time consuming nature of a business plan and financial projections mean the support of an experienced adviser, such as Dains, to assist in the preparation of the documents is fundamental to its success. The level of assistance can vary from a review and critical analysis, to full preparation.