Professional and quality accounting for individuals and businesses

www.ndaccounting.com.au

WRITING A BUSINESS PLANWHAT SHOULD BE IN YOUR BUSINESS PLAN?

Many people dream of being their own bosses

and starting their own business for a better

lifestyle.

The unfortunate reality is 90% of start-up businesses fail.

Business plans are not just created if you’re

seeking finance for your business, it’s a tool for

understanding how your business is put

together.

A business plan should question the validity of your ideas,

the product/service target markets and so on and then be

regularly reviewed and updated.

With this experience

and the experience of assisting

hundreds of start-up businesses

in Warrawong,

Wollongong in fact all of

the Illawarra and afar,

Natasha has put together some

considerations when writing your

business plan.

Natasha at ND Accounting and Taxation

Services started her own accounting

and taxation practice in Warrawong in

2009.

Executive Summary

Your executive summary is placed at

the beginning of your business plan

but it is usually completed at the end

of writing your business plan. It is

your pitch, highlighting points within

the plan and why it is going to be

successful.

Business name, location,

equipment, insurance and

business structure

ND Accounting and taxation services in

Warrawong can assist with ABN’s and

choosing the right business structure.

This section also gives an overview of

capital requirements.

Products and Services

It is important to work out what you

are selling, who you are selling to and

why would they need it.

Marketing is a must

New business owners may spend as

much as 50 to 75 percent of their time

marketing their start-ups. It is vital to

understand your competitors and

target market so you can plan short

and long term marketing strategies

and cost.

Goals

Make realistic business goals for the

period of time that the plan covers.

Set milestones for each step.

Management structure and

staff

Include key staff members and roles.

Pricing and Financials

This is a detailed financial plan with

summary. This will include sales

forecasts, assumptions, annual income

and expenditure, profit and loss

statement, cash flow statement and

balance sheet. Once again you

contact a professional that

offers accounting and taxation

services to assist.

Your business plan is your road map to success and

as mentioned above it should be reviewed and

revised at regular intervals throughout the year.

You can start with a blank piece of paper, a whiteboard or

a ready made template

www.ndaccounting.com.au

Phone: 4272 3048

E-mail: Natasha@ndaccounting.com.au