Why you need a business plan

A wall-drafted business plan is a vital tool for both those starting out in business and those looking to develop an existing enterprise.

• Whether you are starting out in business or looking to re-boot an existing salon enterprise, a business plan is a vital tool.

• The act of compiling it means you step back and think about the overall direction of your company.

• It’s a fact that a business based on a well thought out business plan is more likely to be profitable.

• With a plan to refer to you are likely to make better informed decisions and achieve business goals.

• A business plan is invaluable when looking for finance to fund a new business or develop an existing one. It can provide a document that is recognised by lenders as a basis for lending decisions.

• The exact content will differ depending on a plan’s specific purpose, but it is always a good idea to keep it simple, focused and realistic.

• A plan should ideally cover everything about your business in a snapshot summary of no more than 15-20 pages.

   Useful Links https://www.gov.uk/write-business-plan