Create A Post-Covid Business Plan For Your Company
Hurley Accountancy understands that with the end of the Covid Pandemic in sight, your business may have changed considerably since the start of 2020. You may have reevaluated your businesses goals and the plan for the future of your business in the long term.
You may be considering drafting a business plan for your company and may not be sure where to start. We here at Hurley Accountancy can help with some tips for drafting a clear and concise, robust one-page business plan for your company.
With a one-page business plan behind you, your company can have a real sense of strategic direction and a set of core goals to refer to and track against.
If you haven’t written a plan before, a template is a useful place to begin. Start with the following headings:
- Business overview – your business overview should include a mission statement, this outlines your key goals and objectives as an enterprise. A good mission statement explains what you do, why you do it and who you do it for.
- Business profile – a business profile section gives others an indication of how long you’ve been in business, the speciality products or service niches that you focus on, and the key strengths of the company. It will also outline your business strategy and how you aim to achieve your targets, increase your customer base and grow the business over time.
- Business environment – This section sets out the industry that you trade in as a business. So you should outline relevant things like the key trends in your industry, your close competitors, and the size of your current customer base. You can also include any market research you’ve compiled regarding your intended market, industries and customers, to give your plan some factual foundations.
- Financials – Your business plans financials section sets out the basic financial drivers of the business idea. For new businesses, this will mean outlining your projected expenses, budgets and general finances, etc. For existing businesses, you can include your profit and loss margins, company balance sheet, sales trends and projected budgets etc.
Your company, like the Hurley Accountancy team, can only benefit from having a clear business plan and in the long term, it will offer you a clear indicator of how far your business has come since you drafted your business plan.
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