Business plan

Why a business plan?

• To identify a set of business goals
• Ask why can these goals be achieved
• Develop a plan to reach the goals
• To determine if the business can succeed

When do we do a business plan?

• BEFORE starting a business
• AFTER starting the business (revise)
• PERIODICALLY revisit thereafter (update, monitor and change)

Rules to follow

• Keep it simple
• Make sure it is relevant for the intended audience - Owners, Staff, Investors, Bankers etc
• Ensure it addresses - PROFIT

Basic business plan

• a two- to three- page executive summary
• past and projected financial information (including balance sheets and cash flow statements)
• firm ownership information
• an explanation of how and why the business can deliver the goods and services
• and an examination of the potential market

Where can Daberistic Accountants help?

Apply our experience with similar businesses in your industry

Assist the business with:
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- structure
- SARS compliance/registration
- Budgeting, cashflow projections
- Accounting compliance
- Taxation compliance

Remember plans are wrong BUT vital

Plans do:

• identify good areas
• Identify problems
• Help you understand reality

Remember you don’t know how to recover or how to adjust the plan if you didn’t have a plan in the first place.

Courtesy: Wayne Smith & Associates