Contact Us

We would love to hear from you.

County Hall
Rhadyr
Usk
Monmouthshire
NP15 1GA

01633 748 316

info@monmouthshire.biz

  • Who would you like to contact

Your business plan

Your business plan

Your business plan is a key document that describes your business, your objectives, your market and your financial forecasts.

Your business plan has many functions, it can help you secure external funding and can also help you measure your success.

Planning your business is a necessary process to undertake before, during and after you start. Writing your plan helps clarify your thinking and identifies the journey your business is on, where you intend to get to and how you intend to get there. Your plan will also help you review your progress against your forecast and make any necessary adjustments to get you back on track. Your business plan should be updated regularly as your business grows.  It should also be a well presented document so that you can show it to an investor or bank should you need to raise finance.

Common Mistakes and how to avoid them

To maximise your opportunities for success for your new business there are some common mistakes that can be avoided. These include:

  • Poor or inadequate market research
  • Weak financial planning
  • Setting your sights too high
  • Taking your eye off the competition
  • Poor supplier and customer controls
  • Poor stock and asset management
  • Hiring the wrong people

Marketing and Sales

For a business to be successful it needs to get its marketing right.  Marketing is all about identifying and satisfying your customers needs – profitably.  Our useful resources section includes everything from market research to pricing, promotion, selling, distribution, customer care and lots more.

Financial Planning

Whether you’re starting up, or growing your business, if you’re thinking about seeking finance, there are a number of key questions you should think about before you approach anyone for funding, including:

  • are you ready for financing?
  • what do you need the finance for?
  • how much funding do you need and for how long?
  • what are the right funding options for your business needs?
  • do you have an up-to-date business plan?
  • if you take out a loan, can you afford to repay it?

You need to fully understand these key points before you decide to seek access to finance this will also help you be better prepared for any future funding application you submit.