Supporting Businesses in Essex

A Business Plan sets out the objectives of a business over a stated period, often 3 or 5 years. In its simplest form, it defines where you want your business to be within a certain period of time and how you plan on getting there. For many businesses it is an essential document for raising capital or loans. The plan helps a business to look ahead, allocate resources, focus on key objectives and prepare for problems and opportunities that may arise. A good business plan should help a business to optimise growth.

Each business plan will vary according to the individual business, however should include:

• an executive summary of the business details
• a marketing and sales strategy
• details of your management team and personnel
• operations (premises, production facilities, ICT, systems etc)
• financial forecasts (monthly profit and loss, cash flow, balance sheets)
• how you are planning to repay any loans/credit facilities
• what debts and credit commitments you have

For further information on how to produce a business plan or advice on how to strengthen your existing plan, please contact our Banking on Essex business partner Colbea.

Colbea provide business advice and business training for start-up and established businesses in Essex. Clients come from all sectors, including social enterprise. Advice is from professional advisers who have wide experience in all aspects of business life.

To find out more about our special Banking on Essex offer, please contact Colbea on 01206 548833 or click on this link.