How To Build An Effective Business Plan

Businesses at any stage in their life cycle can benefit significantly from creating and implementing a business plan. An effective business plan will map out your goals and aspirations, but also identify any potential financial risks and operational challenges.

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Research has suggested that 60% of small businesses fail in the first 3 years of trading with:

29% failing because they ran out of cash

18% failing because of pricing and cost issues

17% failing due to a lack of business model

14% failing because of poor marketing

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A business plan can identify risks ahead of time and provide strategies to avoid these issues.

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Read our guide to find out what you should include and what your business plan can do for you apu-feb23-how-to-build-a-business-plan

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If you would like to discuss in more detail any of the issues raised in this article with a member of our team, please call 01772 741200.