A forecast is just that, but a good plan is something to stick to

Business Finance Services

1st October 2018

Buying & Selling A Business

Business Finance Services

By Peter Douglas

Business Finance Services

ALL businesses should have a plan to work to. Many do, but how many monitor their progress against that plan? In our experience, not many! Those that do, however, tend to be the companies that are more successful.

Developing a plan has so many potential advantages it is difficult to think why you wouldn't want one. Writing the plan makes you concentrate on what you are doing. It also helps to decide on whether what you plan to do is worthwhile, or is there a better alternative?

Having produced a plan that you are happy with and you believe to be realistic, it is always advisable to get a second opinion (or more!). Accountants are good for this.

Armed with the business plan, it makes sense to monitor progress against it. The question to be asked on a regular basis is 'Are we on target?'. If you are behind then why and what do you need to do to rectify the problem? No good waiting until the end of the year and then panicking over the poor results. Get early warning and take early corrective action.

Obvious? It is if you think about it.

Whether you are thinking about starting a new business or you need help to get an existing multi-million pound business back on track, call us at BFS. You will be amazed at how much help we can offer both in terms of sourcing finance and in providing business planning and mentoring support. You will also find that our fees are very reasonable.

If your aim is to prepare your business for sale, we can also do this for you. For a detailed discussion call us on 01327 349779 or email enquiries@bufinserv.co.uk

We are here to solve your problems (but only your business ones!).

Business Finance Services