Business Planning: A Guide to Business Start-Up
A readable and structured guide for the increasing numbers of people each year who consider setting up a small business or becoming self-employed.
'Business Planning' outlines the options and risks involved in setting up a business. The importance of thorough planning is often overlooked and only becomes evident if the business fails. This is highlighted in a recent study by the SFEDI of 486 bankers and accountants where lack of planning was the most common reason cited as to why businesses fail. 'Business Planning' shows how to avoid this failure by focusing on the planning stage and building on this framework as the business develops.
This is the only book based around the Small Firms Enterprise Development Initiative (SFEDI) for first time owner-managers. It contains all the underpinning factual information required to prepare and present a successful Business Plan for presentation to a bank manager, or an alternative potential source of finance, or for use in an NVQ portfolio. It is in line with the major syllabuses for Business Start-Up, and can be used as a course book for anyone completing a formal NVQ level 3 qualification in this area, with tips on NVQ structure and assessment.
(EU), there have been dramatic changes in legislation in recent years. For example, the EU Social Chapter has improved the rights of both full-time and part-time employees and, in 1998, the Working Hours Directive increased the rights to paid holiday each year, and substantially reduced the maximum average working hours each week. (This is discussed further in Chapter 5.) A change in UK food hygiene regulations in 1991 forced many catering outlets to scrap and completely change their
there is a new government budget, which is usually at least once a year. However, they also define some of the processes and procedures within which businesses must operate, and act as a convenient mechanism to modify other more significant pieces of legislation. An example of the latter is shown below under the Partnership Act section. HM Customs and Excise VAT regulations Value added tax is another legacy of membership of the EU, the rates of which have climbed slowly but steadily since its
of customer service manager, increasing levels of teamwork and multiskilling, integrated audio, video and data communications. These may be great for a large company, but are somewhat grandiose and impractical for the average owner-manager of a new business, who struggles to afford a secretary. What is needed then is to take some of the ideas from the big company model and to apply them on a smaller scale. So in answer to the question ‘How do we go about formulating a customer care policy?’ we
probably only need some basic transport and equipment. The second stage is to brainstorm and list all the physical resources which could conceivably be required, and to sift through them eliminating those that might be nice to have at some point in the future, but which would not be essential for the first year of trading. Sorry, but the bright red Ferrari really must wait! The remainder can be sorted under three headings: ‘Already available’, ‘Essential for start-up’, and ‘Buy during first
occupied? Can they be trusted in the owner-manager's absence? What will be the costs to the business or the effects on profit if they are not employed, e.g. will contracts be lost? How difficult or costly will it be to get rid of them if things go wrong? How soon will they be needed? What induction, training or supervision will be needed, and will this interrupt other work? So, assuming that we have already identified the nature of the skills deficit and then asked and answered these important