A business plan for SMEs
I had a number of queries from earlier editions of this book about whether a plan for a small or medium-sized business should look like that for a large business, or indeed for a start-up.
The answer is simple. Yes.
Whatever the stage of evolution of the business, whatever its size, whether the current turnover is £1,000, £100,000 or £100,000,000, the structure of the plan should be as set out above.
Your backer wants to know in which segments the profits reside, where market demand is headed, what your competitors are up to, what your competitive advantage is, what resources you will deploy, including management and marketing, what your financial prospects are and what are the risks, opportunities and sensitivities ...
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