Introduction to business plans for SMEs

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Presentation transcript:

Introduction to business plans for SMEs Maggie Weaver Shaftesbury Associates

The SME Business Plan What’s it for What’s in it How do we contribute How do we benefit

What’s a Business Plan for? “Selling” tool for getting financing First payoff: encourages realism Determine product or market niche Long-term payoff: management tool

Business plan websites Descriptive Table of contents Template Interactive (online) Software Sample plans

What’s in an SME business plan? Business overview Products/services Industry overview Marketing strategy Management & staffing Regulatory issues Risks Implementation plan Financial plan Executive summary

Interactive Business Planner http://www.cbsc.org/ibp

Interactive Business Planner

Section 1 – Business Overview Business history Vision & mission statement Objectives Ownership Location & facilities Section 2 – Products/services Products/services description Key features Production process Future products/services Comparative advantages in production

Business Overview – ownership http://bsa.cbsc.org

Section 3 – Industry overview Research sources Size of industry Key product segments Key market segments Purchase process & buying criteria Description of industry participants Key industry trends Industry outlook

Industry overview – getting lucky ISA Reports http://www.stat-usa.gov

Industry overview – getting lucky InfoExport http://infoexport.gc.ca

Section 4 – Marketing strategy Target markets Key competitors Analysis of competitive position Pricing strategy Promotion strategy Distribution strategy

Section 5 – Management & staffing Organizational structure Management team Staffing Labour market issues Section 6 – Regulatory issues Intellectual property issues Other regulatory issues

Staffing – labour market issues

Regulatory issues – example

Section 7 – Risks Section 8 – Implementation plan Market risks Other risks Section 8 – Implementation plan

Section 9 – Financial plan Balance sheet Pro-forma income statement Monthly cash flow statement 3-year cash flow forecast Section 10 – Executive summary

How do we contribute? Information resources Examples Educate/promote Imagination

How do we benefit? Understand a client group Knowledge of the local business environment Contribute to economic growth Template to build our own business cases