Business Development - Company Start-ups - Business Plans

Whether the business is well established, going through a process of change or in the early stages of start up, business planning is an essential tool to assist in the decision making processes and collate information relevant to the business objectives. It also provides essential reading for potential investors including banks and funding agencies.

Business plans must be seen as a tool to present a current assessment of the business as well as give direction for development and growth. It is necessary to have an up to date business plan in order to secure funding, ranging from an overdraft facility, bank loan, grants through to venture capital funding.

Business planning is an ongoing process and should be reviewed on a regular basis. Twice per year is a minimum and maybe more frequently if appropriate to the type of business.

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