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Your Business Plan

The preparation of a business plan is one of the first steps that you need to take when planning to start a small business.

There are three main reasons for creating a business plan.

1. To have a written record of the plans for your business.

2. To help you with the raising of finance.

3. To enable you to monitor the progress of your business once it is started.

Written Record

Putting your ideas on paper will help you think more clearly about about the steps you will need to carry out and will help you spot potential problems.

Raising Finance

Without a business plan you will find it almost impossible to get loans or overdrafts to finance your business.

Monitoring Progress

A well thought out plan will help you organise and run you business in an efficient manner. How can you ensure that your business is performing and developing in the correct way unless you have a plan which you can measure progress against?

You will probably need your accountant to help you with the preparation of your business plan.

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