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Whether you’re already running a business or want to get yours off the ground, being on top of your finances is crucial for making it a success.Make sure you clearly write down all your earnings and outgoings in your business plan.Break the information down into simple sections: Whether you’re launching your own start-up or looking to grow your small business, our FSB Business Leads will help you find new customers.
We offer independent, unbiased business and personal finance advice and our members already benefit from a free initial consultation, a free financial healthcheck and investment advice.
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Remember that some people may only read this section, so make it a clear, concise overview of who you are, what you want to do, and how you plan to do it.
As a charity, your business plan needs to show not only a financial return, but also a social one.
Your plan should also show that you understand your market, and that the work you do has both a social and financial return.
You may need a business plan if you’re: ready is the wisest decision that a firm can make to gear up its further growth. Read this article on what you need to think about before you start working on your business plan.Our members have free access to our FSB Online Legal Documents service which has a dedicated business start-up section with handy tip-sheets on Employment Law, Health and Safety regulations and business insurances.We also have our FSB Company Pension Plans to help you cover you and your staff’s retirement.Remember there are a number of legal requirements if you set-up or run your own business, especially if you employ staff.Don’t panic we can help you take care of the paperwork.Back this up with details of how you measure, learn from and communicate your impact, including: This is also where you include your financial forecasts.These are one of the most important parts of your business plan – however good your idea, product and team, unrealistic forecasts will let your plan down.Unless you’re entering a genuinely new market, you’ll have competition.Show you know who you’re up against and what makes you different – it demonstrates credibility and realism.Start with a simple statement about what you do, and then come back to this part last, once you’ve worked everything out. How do people buy what you sell, and how do they hear about you?Outline your strategy and its likely cost - and don’t forget to add costings for making and getting your product to customers.