Do you want to be successful? Expand your business? Be competitive?

If you answered yes to the above, you need a business plan.

Why do you need a business plan?

There are various advantages of having a business plan.

• Helps you determine whether your idea is feasible.
• Vital in helping the business get finance. Banks and investors only invest in businesses where they feel confident about the future business growth and profitability.
• Helps prioritise your time by ensuring time is spent on goals you want to achieve, and the strategies to achieve them. This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin.
• Provides control over your business by allowing you monitor strategies which are both effective and ineffective

What is included in a business plan?

A business plan usually provides information about the business, about the market it operates in, future prospects for the business and current (if available) and expected finances. The list below provides guidance on some items to include (not exhaustive):

• Business summary (completed at end and is usually a one page summary)
• Business details (structure, location, staff, products and services etc.)
• Market analysis (about the industry, customers, competitors etc.)
• Future analysis (vision goals, business goals, business milestone etc.)
• Business finances (start-up costs, current finances, projected finances etc.)
• Supporting documentation

For more information about the purpose of business plans or assistance in writing a business plan, contact Infinity Group on 9792 2772.