Introduction to business plans for SMEs

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Introduction to business plansfor SMEs

• Maggie Weaver
• Shaftesbury Associates

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The SME Business Plan

• Whats it for
• Whats in it
• How do we contribute
• How do we benefit

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Whats a Business Plan for?

• Selling tool for getting financing
• First payoff encourages realism
• Determine product or market niche
• Long-term payoff management tool

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Business plan websites

• Descriptive
• Table of contents
• Template
• Interactive (online)
• Software
• Sample plans

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Whats in an SME business plan?

• Business overview
• Products/services
• Industry overview
• Marketing strategy
• Management staffing

• Regulatory issues
• Risks
• Implementation plan
• Financial plan
• Executive summary

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Interactive Business Plannerhttp//www.cbsc.org/i
bp
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Interactive Business Planner
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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

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Business Overview ownershiphttp//bsa.cbsc.org
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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

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Industry overview getting luckyISA Reports
http//www.stat-usa.gov
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Industry overview getting luckyInfoExport
http//infoexport.gc.ca
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Section 4 Marketing strategy

• Target markets
• Key competitors
• Analysis of competitive position
• Pricing strategy
• Promotion strategy
• Distribution strategy

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Section 5 Management staffing

• Organizational structure
• Management team
• Staffing
• Labour market issues
• Section 6 Regulatory issues
• Intellectual property issues
• Other regulatory issues

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Staffing labour market issues
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Regulatory issues example
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• Section 7 Risks
• Market risks
• Other risks
• Section 8
• Implementation plan

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

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How do we contribute?

• Information resources
• Examples
• Educate/promote
• Imagination

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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