smallbusiness.co.uk: Helping your business think big

Cancel Christmas?

Some of you are probably wondering whether you should cancel...
Have your say »

RSS

Are you ready to write your business plan?

Aug 23 2005

Email a friend

The need for a well-presented business plan is more important for budding entrepreneurs than having a great idea, according to a recent study of 1,000 working age adults carried out by computer printer firm Lexmark. Support and advice was the key factor among only 15% of those questioned. What really holds back the 40% who say they would start a business if they felt they could, however, is the prospect of the high costs involved.

Formulating a business plan is one of the most important tasks when starting up a new business. It will help you set targets, collate all your ideas, plan for the future of your enterprise and see if your idea for a business is realistic and workable. The business plan is an essential tool in attracting funding to get started.

This factsheet describes what a business plan should include, how you should go about writing one and what you will achieve by doing so. It includes hints and tips as well as sources of further information.

To purchase the factsheet, click here.

Comments

There are currently no comments on this article

Prize Draw

Free prize draw!

Smallbusiness.co.uk has teamed up with Avery® Quick&Clean™ Business Cards to offer five lucky readers the chance to win a copy of BBC Dragons' Den James Caan's new book The Real Deal and a pack of Avery® premium heavyweight business cards. To enter the prize draw, simply answer our question here

Polls

Latest Don't Miss

Sweet success: Charlotte and Lynne Fudge

After finishing her degree Charlotte Fudge started mail order biscuits company Biccies with her mum last year. The company recently became profitable and has a turnover of £75,000.

Don't let age be a barrier

Margaret Wood started her engineering company ICW UK, which makes high-tech windows and windscreens, at the age of 46. Based in Yorkshire the 61-year-old entrepreneur received a Women Inventors in Industry award in 2003. Her company has a turnover of £400,000

Hosting in a recession

As the global economy staggers from crisis to crisis small businesses face the dilemma of having to control costs while also ensuring they remain competitive.

Rising Star: Paul Kelly

Championed by the likes of Delia Smith and Jamie Oliver, Paul Kelly started KellyBronze turkeys more than 20 years ago with his dad Derek Kelly. The company is now supplying House of Fraser with its Christmas turkey hamper.

Refinance your business

Refinancing, if successful, can transform a company, not only by providing the funds it needs on terms which are not going to choke it, but also by opening a relationship with sources of support, expertise and useful contacts.

Rising star: Anya Sizer

Anya Sizer of PowerChange started her own business as an infertility coach with the last £4,000 of her savings. One year on and she is breaking even with turnover of £3,000 to £4,000.

Dealing with a court battle

Mike Watson, MD of industrial cleaning company Tube Tech International, has fought three legal battles over 25 years.

Promoting from within

The average cost of bringing in a new employee is £4,500 to £8,000, according to figures from the Chartered Institute of Personnel and Development. So it’s no surprise that promoting internally is popular with employers.

Effective websites

While a good website can have a tremendous impact on sales, it’s extremely easy to do the job badly.

Rising star: Piers Daniell

Still only 26, Piers Daniell has taken internet service provider Fluidata from the confines of his bedroom to a £2 million business in the space of two years

Recruiting for a small business

The recruitment process can seem daunting if it’s your first time, especially given the importance of hiring the right staff.

News

UK needs to help start-ups

The country needs to work collectively to help people with good ideas to start up their own business.

Government launches £25 million business fund

The government has launched a £25 million fund to aid women in business, aimed at high-growth companies.

£1m for Scottish start-ups

A £1 million fund has been launched for Scottish entrepreneurs to help them set up firms with a social or environmental purpose.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.