Initial considerations

All business plans can be used as a communication tool and management tool to tell people what a project or organisation is about and to tract progress over time.

When preparing a business plan it is worth thinking about the following things as part of the process of compiling it:

  • It is part of a bigger plan for an existing organisation or a project that is stand alone or the first act of a new organisation? This should be clear at the outset.
  • If it is for a new project for an existing organisation is the plan to float it off, put it into a trading subsidiary etc?
  • What time period is the plan going to cover? This may be important if a project will need loan finance and a longer time frame is needed to show that a project can service any borrowing.
  • In what ways is the impact of the project going to be assessed other than financially? Is there a need for a framework for measuring or assessing its impact to be included in the plan to address social returns to an investor rather than just financial ones?

A template for a business plan can be found here. Each section of the template is addressed in the other parts of this section.

When the business plan is complete an assessment can be made of its content. To find an Asset Transfer Unit briefing on this click here.