UK How to Prepare a Business Plan
The follow sections will be required in your business plan:
Introduction to Your Business Plan
Who are the promoters & what is their previous experience?
Executive Summary
What is the proposal?
Who are the personnel?
When is the proposal launch timed for?
What finance does the proposal require?
Main Body of Your Business Plan
Management of the Business
Who will be the directors/principal of the business?
Who are the owners?
Who are the senior management?
What other staff are required?
Have you considered staff contracts of employment?
How will the directors/senior management/staff be paid? i.e. salary, bonuses,commissions, etc.
What skills and experience will your staff require?
Will you need to provide ongoing training for your staff?
Have you considered government incentive schemes for employers?
Management Information
Will you need periodic accounts or other informationi.e.weekly/monthly/quarterly?
To what extent will you computerise the operation?
What personnel will be responsible for providing information?
How reliable will the figures be?1
What have the results been to date?
Have you carried out sensitivity analysis?
Product Details
Describe your product or service.
What is the required quality of your product?
Is there a range of products you wish to provide?
What differentiates your products from your competitors?
What is the pricing structure of the product(s)?
How is this different from your competitors?
Production Process
Does your product follow a production process?
What are the worker & machinery requirements?
Image
Have you considered the use of brands, patents, copyrights?
What sort of image do you wish to project for your product? i.e. quality
What image does your competition have?
Do you have a logo for your product(s)?
Do you know what business stationery you require and have you arranged to printthis?
Have you arranged for signs to be made for your business premises?
Business Name
Have you decided on a name for your business?
Does this name conflict with another on the business names register?
If you are trading as a limited company has this been formed?
Is your chosen company name on the company registration office register already?
Market Trends & Promotion
Have you done any market research for your business?2
What are your target markets?
Are there any new products coming onto your target market?
What range of products are currently being provided on your target market?
Have you considered the use of a marketing consultant?
How will you present & promote your product on the market?
Customers
Who will be your main customers?
What value of business would you anticipate from each of your main customers?
Who are your contacts for each main customer?
Who are your potential customers?
How do you wish to attract new customers?
Have you considered the use of internet business?
Competition
What are your main strengths in the market?
What do you feel gives you a competitive edge?
Terms of Trade
Do you offer credit and what are your credit limits for your customers?
What are your credit terms and how many days do customers have to settle your account?
Do you have a debt collection policy to control your credit terms?
Can you accept cash, cheque or credit card payments?
What payment terms do you have with your suppliers?
Do you offer discounts?
Suppliers
What is the quality required of the product supply?
How reliable are your suppliers?
How available are your supplies?
What is the product you need supply of?3
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How to Prepare a Business Plan
Collection of very important steps of a business plan including how to prepare a proposal.
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