Scribd Logo
Upload

Welcome to Scribd!

  • 22 views

    Acca Business Plan

    Uploaded by

    bubbly
    This document provides a guide for creating a business plan, outlining the typical sections and content. It explains that a business plan establishes the purpose and target audience, and can be used to secure financing, benchmark objectives, and improve business operations. The key sections outlined are executive summary, business description, market analysis, marketing/sales, management, operations, financial forecasts, requirements, and appendices. Each section summary provides examples of typical content to include to fully explain the business concept and strategy. The document concludes that this is an introductory guide and specific advice may be needed depending on individual circumstances.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Acca Business Plan

    Uploaded by

    bubbly
    22 views4 pages
    This document provides a guide for creating a business plan, outlining the typical sections and content. It explains that a business plan establishes the purpose and target audience, and can be used to secure financing, benchmark objectives, and improve business operations. The key sections outlined are executive summary, business description, market analysis, marketing/sales, management, operations, financial forecasts, requirements, and appendices. Each section summary provides examples of typical content to include to fully explain the business concept and strategy. The document concludes that this is an introductory guide and specific advice may be needed depending on individual circumstances.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides a guide for creating a business plan, outlining the typical sections and content. It explains that a business plan establishes the purpose and target audience, and can be used to secure financing, benchmark objectives, and improve business operations. The key sections outlined are executive summary, business description, market analysis, marketing/sales, management, operations, financial forecasts, requirements, and appendices. Each section summary provides examples of typical content to include to fully explain the business concept and strategy. The document concludes that this is an introductory guide and specific advice may be needed depending on individual circumstances.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    22 views4 pages

    Acca Business Plan

    Uploaded by

    bubbly
    This document provides a guide for creating a business plan, outlining the typical sections and content. It explains that a business plan establishes the purpose and target audience, and can be used to secure financing, benchmark objectives, and improve business operations. The key sections outlined are executive summary, business description, market analysis, marketing/sales, management, operations, financial forecasts, requirements, and appendices. Each section summary provides examples of typical content to include to fully explain the business concept and strategy. The document concludes that this is an introductory guide and specific advice may be needed depending on individual circumstances.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 4

    Guide from

    [insert your firm’s name here]


    Tel: [insert telephone number here] Email: [insert email address here] [Insert web address here]

    [Insert a line about your business here]

    Edit the above information by clicking directly within the grey panel, or by clicking ‘View’ in the main toolbar and selecting ‘Header and Footer’

    A guide to
    Business Plans
    A SIMPLE GUIDE ON HOW TO PREPARE A BUSINESS PLAN
    This is a basic guide prepared by the Technical Advisory Service for members and their clients. It is an introduction
    only and should not be used as a definitive guide, since individual circumstances may vary. Specific advice should be
    obtained, where necessary.

    THE BASICS OF A BUSINESS PLAN


    The starting point for any business plan is to establish its purpose, how it will develop and who its target audience is. It
    is not just a plan for obtaining finance, and can be used:

     to help secure finance;


     to provide details of your business objectives;
     as a benchmark for the future;
     as a tool to see how your business is managed;
     to help focus on your business objectives;
     to test if your business or a new income stream is viable;
     to improve your business help identify inefficiencies;
     ultimately give your business the best possible chance to succeed.

    A business plan is helpful to all types of business. The types of businesses that will benefit from having a current, up-to-
    date and relevant business plan in place include those which are:

     starting up;
     expanding their operations;
     seeking out opportunities or evaluating challenges;
     looking at specific projects;
     applying for finance;
     preparing their business for sale;
     simply reviewing their business.

    Please note that this is not an exhaustive list and any combination can be the reason for producing a business plan or
    reviewing an existing plan.

    The business plan should be relatively short, professional and well-presented. Remember to always check, test and
    review the business plan’s assumptions before submitting or presenting it to your target audience.

    It is a common misconception that a business plan should not highlight any weakness, it can be seen as a strength if
    demonstrated in a positive manner.

    1
    So what provides the basic structure and foundations of a good business plan? The following headings represent the
    bare minimum for a generic business plan and will need to be tailored to fit the particular business:

     Executive summary
     About your business
     Market/Competitor analysis
     Marketing and sales
     Management/Owners
     Your operations
     Financial Forecasts
     Financial requirements
     Appendices

    Executive summary
    The ‘Executive summary’ should provide an overall outline, and while it always comes first in the business plan, it is
    usually prepared last. A good summary avoids any technical jargon and contains key points from all the subsequent
    sections. An ‘Executive summary’ should highlight the key points which often include:

     The product/service that is currently offered


     The owners/management in place
     A brief history of the business’s trading activity to date
     Forecasts: next 12 months, 2-5 year period, 5 year and ongoing
     What finance is required, how that will be utilised and with what return.

    About your business


    This is where you explain the business in more detail, often including the following:

     Business background
     Your business – products and services, trends and description
     Details of what makes the business unique
     Selling the benefits of your products
     Timeframe over which the business has developed
     Summary of the key personnel’s experience/pedigree
     The business structure, ownership and any proposals to change this
     Sales templates
     Group structure.

    Market/Competitor analysis
    This is usually an externally focused Strengths Weaknesses Opportunities and Threats (SWOT) analysis faced by the
    business. It is important to explain the market the business operates within, which is further analysed into sub-groups
    such as age, locality etc. This section might also cover:

     A total analysis of all markets and how each market is changing and developing
     Trend analysis of the market
     Purchasing habits
     Pipeline customers.

    Marketing and Sales


    This vital area indicates how successful the business is at present and helps to indicate how the business will be
    developed in the future. It often includes:

     How your products/services meet the needs of your customers/clients


     Your market position, product pricing, order details historical and future
     Sales method - telesales, internet, face to face
     For start-ups this needs to demonstrate market position and sales method, demonstrating that you know how to
    sell to your chosen market
     Marketing and promotion, PR, advertising strategy

    2
     A breakdown of products if there is more than one, each product’s profitability and if whether is scope for
    development
     Target market
     Positioning statement
     Branding strategy
     Product strategy
     Pricing strategy
     Distribution strategy
     Promotional strategy
     Customers – acquisition, retention
     Marketing Strategies
     Marketing mix (4ps – product, place, pricing, promotion)

    Management/Owners
    It is important to demonstrate that the business has the best management/ownership structure in place. This section
    displays, if applicable, the group structure and how the companies interact. When there is a small team or for a start up
    it is important to demonstrate past experience and the pedigree of the key individuals involved in the business. The
    ‘Management/Owners’ section often includes:

     The people involved including the owners


     Key management roles
     Background on key personnel
     Details of how all aspects of the business are covered, demonstrating that there are no gaps that could lead to
    weaknesses and if there are any weaknesses, that these are highlighted, with a solution, or a proposed solution,
    in place.
     It is also important to show the support functions and how they are going to be catered for.

    Your Operations
    This covers the operational capacity of the business, with an emphasis on the day to day running of the business. It is
    important to note any opportunities to utilise spare capacity and any proposal to increase current operational capacity. A
    business must also demonstrate how they can cope with the capacity they are forecasting. An analysis of ‘Your
    Operations’ often includes:

     Current operational capacity


     Staff shortages
     Current suppliers
    .

    Financial Forecasts
    This is pivotal and must reflect the rest of the business plan. The forecast must demonstrate the business’s realistic
    ambition for the future and must be backed up by all areas of the business plan. This section often contains details of a
    risk assessment. The forecasts must be realistic and achievable and displayed in a time line. The ‘Financial forecast’
    section often includes:

     Sales predictions with possible allowance for sales price variations


     Each flexing within the forecast, must be backed up with reasons
     All assumptions that support the forecast, must be clearly stated
     A 12 month forecast, 2-5 year forecast and 5 year and ongoing forecast.

    Financial Requirements
    This is very important: and will explain why the business needs the money, how it will be utilised and how repayments
    will be furnished. Financial requirements often include:

     What type of finance is needed and when


     What the finance will be used for
     Repayment plans, detailing how the business has the finances to repay the money borrowed.

    Appendices

    3
    This section often includes:

     Monthly cash flows


     Prior period financial statements
     Profit and Loss accounts
     Monthly sales figures
     Assumptions used in the business plan and any supporting documentation
     Key personnel CVs
     Market research, including customer research
     Technical data on products/services.

    FURTHER CONSIDERATION
    This is a guide to assist in understanding how to prepare a business plan and to provide assistance when dealing with
    clients. This document has no regulatory status and only provides an overview.

    ACCA LEGAL NOTICE

    This is a basic guide prepared by the ACCA UK's Technical Advisory Service for members and their clients. It should not be used as a
    definitive guide, since individual circumstances may vary. Specific advice should be obtained, where necessary.

    You might also like