Whether you’re already running a business or want to get yours off the ground, being on top of your finances is crucial for making it a success.Make sure you clearly write down all your earnings and outgoings in your business plan.Remember that some people may only read this section, so make it a clear, concise overview of who you are, what you want to do, and how you plan to do it.
Potential investors and banks will want a realistic picture of your books.
If you want to find out how to borrow money or make savings, don’t forget our FSB Business Banking can help you.
Unless you’re entering a genuinely new market, you’ll have competition.
Show you know who you’re up against and what makes you different – it demonstrates credibility and realism.
Your plan should also show that you understand your market, and that the work you do has both a social and financial return.
You may need a business plan if you’re: ready is the wisest decision that a firm can make to gear up its further growth. Read this article on what you need to think about before you start working on your business plan.After all, you can only execute your business ideas when you already have a plan ready at your hand, said Brian O. If you’re an NCVO member you can download a business plan template, with more detailed guidance on what to include in each section.Start by summarising the key points of your business plan.Remember there are a number of legal requirements if you set-up or run your own business, especially if you employ staff.Don’t panic we can help you take care of the paperwork. To be fit for every purpose, your plan should be straightforward – it should set out where you’re going, how you plan to get there, what makes you different and what could get in the way – with full costings for as much of it as possible. Hit your business’s key points hard: Why are you here? Where are you heading – and how will you get there?An executive summary will help any readers quickly grasp the main points of your plan.This social return is your impact – the difference you make for the people and communities you work with.Use this section to give a clear and concise description of your impact.Break the information down into simple sections: Whether you’re launching your own start-up or looking to grow your small business, our FSB Business Leads will help you find new customers.Our specialist advice can help you build your business’s profile and our members are already benefiting from exclusive discounts to access the latest business data lists.