A business plan is definitely critical if you need to approach a bank or investor for funding. It is essential for your enterprise, whether your business is starting up or already established, it’s the roadmap for future development.
A good business plan will help you obtain financing, arrange strategic alliances and attract potential investors to your business which is becoming critical in the current BEE environment here in South Africa.
Benefits
Important if you are seeking a loan or investment
Catch cash flow problems earlier
You gain an understanding of your market.
You can better plan and manage cash flows
You can draft your own business plan but it is better to get advice from a business expert on how best to draft a business plan that speaks to both investors and your customers. According to Grow Think, By hiring a professional business plan writer, you can focus on what you do best while someone else takes on what they do best. This will save time and money for both parties involved while ensuring that everything is handled to make your business a success.
Here are a few things that you need to have in your business plan:
Executive summary
Company description
Market analysis
Organization and management
Service or product line
Marketing and sales
Funding request
Financial projections
You can hire a business consultant to help you draft your business plan. There are many business consultant services in South Africa. Here are four important factors to consider when choosing one who is suitable for your business:
Ensure that the consultant specialises in drafting business plans for businesses within your industry.
Determine what the consultancy’s niche is and how they can help your business.
Consider the consulting costs. Are you going to be charged an hourly, projected or retainer fee?
Serv has a number of business consultants who are ready to help you draft your business plan. Find your Business Plan expert on Serv now.
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