A statement detailing the aims of the business. Usually required for presentation to external sources of finance. Often prepared with assistance of the Accountant.
A business plan is a formal statement of business goals, reasons they are attainable, and plans in place for reaching them.
It is likely it will include background information about the organisation and those representing the organisation. A business plan may show changes in business practices and overall strategies for the control and promotion of the business.
When an existing business is about to embark on a new venture, a business plan covering a period of several years may be required particularly if it is to be presented to potential investors who will likely be looking for a return in a predetermined time frame.
Different lenders for example may have different requirements and the help of a local accountant who understands these needs may be hugely beneficial in the early stages of business planning.
Need Business Plan Assistance? Speak to GPG on 01296 613355