New Year, New Business? Nicola discusses why you need to have a business plan.

It’s a new year and time for fresh starts. If you’ve been toying with the idea of starting-up your own business then what better time than now?

In order to gather your thoughts and get a clearer idea of how to proceed one of the best ways forward is to write a business plan.

  • A business plan will help you to articulate exactly what your business idea is.
  • By methodically considering each aspect of the business it will help you to formulate and prioritise your plan of attack.
  • It can help you identify potential areas of weakness.
  • Most importantly your plan should include financial forecasts for at least the first 12 months.
  • These forecasts will help you to assess if your business is viable and also identify what level of start-up funding you will require.
  • On an ongoing basis your forecasts will act as a benchmark to measure your actual performance against and will also provide you with goals to achieve.

Do get in touch if you’d like to speak to us about help with financial forecasts.