Rogerson Kenny Business Accountants Melbourne

Preparing a Business Plan

Too many business don't plan for their business to succeed. A business plan is a great way to put everything down onto paper of what you want to achieve, how you will achieve it and when you will achieve it by. It is a document that should have the input of your trusted advisers (Accountant, Lawyer, Bank Manager etc)

The Mechanics of the Preparation of a Business Plan

 This is the "How" of a business plan coming together, which includes:

• Why are we planning
• Business Review Meetings with your accountant (hopefully Rogerson Kenny Business Accountants)
• Complete a detailed Business Plan Questionnaire
• What If analysis
• SWOT Analysis
• Research on:
  • Customers
  • Markets
  • Financial Analysis
  • Benchmarking / Inter Firm comparisons
  • Australian Bureau of Statistics
  • State Government Departments
  • Universities
  • Austrade
• Preparation of Budgets and Cash Flow Forecasts (possibly one of the most important parts to any businesses success / survival)
• Preparation of Sensitivity analysis (best and worst case projections)
• Preparation of Draft Business Plan
• Review / Amendments to Draft Business Plan at a Business Review Meeting with your Accountant (once again, hopefully Rogerson Kenny Business Accountants)
• Review & modifications 
• Final Document

Key Components of the Final Document

• Executive Summary
• Key Performance Indicators
• Action Plan
• SWOT Analysis
• History of the Business
• Mission statement
• Implementation
• Budgets and Cash Flow Forecasts 
• Review Strategy (ie. Monthly directors meetings, meetings with Accountant etc)

Sections of the Business Plan

• Index
• Executive Summary
• Action Plan
• Key Performance Indicators
• Business Review
• SWOT Analysis
• Mission Statement
• Services
• Market
• Intellectual Property
• Customers
• Competition
• Resources
• Staff
• Marketing
• Staff Training and Development
• Quality Assurance
• Accountancy System
• Debtors
• Stock / Work In Progress
• Legal
• Insurance
• Banks
• Management team
• Investments
• Capital Expenditure
• Directors
• Stakeholder
• Benchmarking
• Risk Analysis and Contingency Plan
• Budgets and Cash Flow Forecasts
• Review of Business Plan

Preparing a Business Plan - to Raise Capital

If you are starting a business from scratch, having no track record is going to make it hard to raise capital. A Business Plan is the first step in doing this. Typically a financial institution will not even consider your quest for capital without a detailed business plan. Basically, the more detail you can provide, the more chance you have of obtaining finance.

We at Rogerson Kenny Business Accountants offer help with some of the specific components related to the Business Plan.

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