usiness planning and production of business plans tend to be a more reactive exercise for most businesses, e.g. when requested by a bank to support a loan application. However, all businesses should have a business plan of sorts in order to keep a grasp on the financial health of their business.
Most businesses that fail do so because the managers become so engrossed in the day-to-day operation of the business that they lose sight of their cash flow commitments and run out of working capital. In the absence of exceptional circumstances, some simple business planning can ensure that managers can see potential issues in advance and can take decisions in a proactive manner.
As well as keeping potential issues at bay, financial planning and investment appraisal processes will aid all strategic business decisions such as the purchase of a major asset, expansion/restructuring, HR activities, working capital management and shareholder changes.
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Business planning will ensure your business follows the fastest, most direct path to success. After all the whole point of going into business is to build a better life for yourself and your employees. Start-ups and existing businesses can benefit from strategic planning in the following areas :
Business Growth – Is your business growing as fast as it should?
Business Forecasts – What money is coming in and going out of your business?
Buying & Selling a Business – Do you know the steps involved and appropriate legislation?
Performance Indicators – e.g. Are you getting 10/10 customer satisfaction feedback?
We have a team of diversely experienced business consultants who are ready to help with every aspect of starting and operating your business.