Introduction to business plans for SMEs
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Transcript of Introduction to business plans for SMEs
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Introduction to business plansfor SMEs
Maggie WeaverShaftesbury Associates
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The SME Business Plan
• What’s it for
• What’s in it
• How do we contribute
• How do we benefit
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What’s a Business Plan for?
• “Selling” tool for getting financing
• First payoff: encourages realism
• Determine product or market niche
• Long-term payoff: management tool
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Business plan websites
• Descriptive
• Table of contents
• Template
• Interactive (online)
• Software
• Sample plans
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What’s in an SME business plan?
• Business overview
• Products/services
• Industry overview
• Marketing strategy
• Management & staffing
• Regulatory issues
• Risks
• Implementation plan
• Financial plan
• Executive summary
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Interactive Business Planner
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Section 1 – Business Overview• Business history• Vision & mission statement• Objectives• Ownership• Location & facilities
Section 2 – Products/services• Products/services description• Key features• Production process• Future products/services• Comparative advantages in production
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Section 3 – Industry overview
• Research sources• Size of industry• Key product segments• Key market segments• Purchase process & buying criteria• Description of industry participants• Key industry trends• Industry outlook
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Section 4 – Marketing strategy
• Target markets
• Key competitors
• Analysis of competitive position
• Pricing strategy
• Promotion strategy
• Distribution strategy
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Section 5 – Management & staffing• Organizational structure• Management team• Staffing• Labour market issues
Section 6 – Regulatory issues• Intellectual property issues• Other regulatory issues
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Staffing – labour market issues
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Regulatory issues – example
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Section 7 – Risks• Market risks
• Other risks
Section 8 –
Implementation plan
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Section 9 – Financial plan
• Balance sheet• Pro-forma income statement• Monthly cash flow statement• 3-year cash flow forecast
Section 10 – Executive summary
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How do we contribute?
• Information resources
• Examples
• Educate/promote
• Imagination
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How do we benefit?
• Understand a client group
• Knowledge of the local business environment
• Contribute to economic growth
• Template to build our own business cases