Small business owners often spend the majority of their time getting their business started and do not consider allocating time and resources to creating a business plan or plan for longevity.
At Four Wealth Management, our Small Business Financial Planning Service will work with you to create a bespoke financial plan to help keep your business on track, organise your finances and minimise potential risks to your business.
Part of Financial Planning for a business involves having a business plan in place. Our Financial Advisers can then work with you to help your business reach its financial goals.
What is a business plan?
A business plan is a document that outlines your business model, goals, target market, future plans and business financing. It can be a good way to set specific objectives for your business over a variety of timeframes, for example monthly and annual. Having a business plan is a good way to easily share your strategy with others and determine future business needs such as additional staff or resources.
What are the benefits of having a business plan?
If you require a loan or additional funding to expand your business, having a business plan in place is essential to pitch your business to potential investors or supporters. This will enable to them to see potential growth of the company and future plans that their money will be used to contribute to. It will also make it clear what potential returns they could expect and how much risk they could be taking.
Business plans can also be essential for decision making, for example to determine what products or services to sell and price points. The plan can determine what pricing structures need to be established to make sure the business is making good returns.
Business plans can also be a way to generate ideas to create new business and establish possible solutions to challenges.
What do I need to include in a business plan?
A business plan typically includes a business overview, market analysis, what products and serves you offer, sales, marketing, competitors, current clients, resources available, budgets and projected finances.
How do I keep my business on track?
With the day to day running of a small business being very time consuming, it can be easy to lose sight of future planning and making sure that annual goals are met.
Four Wealth Management’s Small Business Financial Planning service can help you to stay on track.
Start Financial Planning for your small business today
Business owners often have little time to think about organising business finances to keep their business plan on track. At Four Wealth Management, your Financial Adviser can help you to plan ahead to help you to achieve your financial objectives.
Contact Four Wealth Management today to book a no-obligation financial review to discuss your business financial planning.