Business plans

[Seahorse]

I think i know what they are, (a plan of how yuo want your company to expand)
But what if yuo dont have a plan and are quite happy to plod on making/selling thhings willy nilly.
Admittedly not good money wise but how does a business plan help.

[Fran]

Business plans are required by Banks as an example for when you want to borrow money to get yourself up and running or to expand. It's always a good idea to have a business plan for yourself too. You also need a business plan if you want to apply for grants too.

If your happy with just making and selling on a small scale at craft fairs etc then you can work within your own financial means quite happily and have no need for a business plan or to borrow.

Fran

[euston-74]

Hi
If you want to do one your local Chamber of Commerce probably has a small business advisor who will be happy to help you out.
I did one when I started my business and I found it really helpful as you can make sure you have covered all the aspects - but it really is only necessary if you are going to invest lots of time (and more importantly money) in making it a financial success - if it's just for fun don't bother.

[Fran]

I've just re-read my previous post and you'll all have to forgive the messy grammer......I'm in pain today! I've gone and trapped a nerve in my lower back. Thank god! my eldest boy is capable of doing my next few events for me over the weekend!

Fran

[Seahorse]

Ouch, I hope you back gets better soon.

[Fran]

Thanks Me too!