Luton Borough Council

Business planning

We provide a signposting service to organisations who assist in business planning and offer start-up advice.

We also suggest contacting the SEMLEP Growth Hub, who will be able to offer a business advisor to discuss with you all the help available currently and specifically to your business.

Telephone: 0300 01234 35
Website SEMLEP Growth Hub

Business planning is an essential component of any successful business but it is often overlooked due to pressures of day to day work.

A well considered and constructed business plan can help you safeguard your own investment, focus your efforts, ease external financing problems and provide you with a yardstick against which to measure your progress. Once developed you should aim to maintain your business plan in-line with your business.

Writing a business plan is essential but it is not as difficult as it may sound - it is simply a way of putting your ideas on paper.

It's typical to cover these areas.

Executive summary

The executive summary is a vital part of the business plan and is an overview of purpose of business. Judgments will be made by lenders, on this section alone. Here you will include the key points of the entire plan in brief. The content should inform and interest the reader. The executive summary should be no more than one page, two at the most.

Description of the business

This will include a brief of who you are what you are planning to sell. Evidence of demand for product/service - size and location of market, buying patterns, type of research carried out.

Marketing strategy

Include your knowledge of the market.

How you will promote your product/service?
What sales targets you have set?
Who your customers are?
How you will create awareness?
Who your competitors are?
Knowledge of competitors share of the market and how you will overcome it?

Management and staff

This is where you include all your relevant work experience and that of the staff that you are planning to employ. Include any CVs in the appendices. This section should also include any training you will offer. Include all salaries and benefits.

Financial forecast

Include detailed analysis of your cash flow forecast, profit and loss and initial financial outlay

Your plan should contain the essential information required - not waffle. Try and tailor it to the needs of whoever is going to be looking at it. And remember, with financial predictions - best to be prudent - don't be over-optimistic!

You can obtain examples of business plans from:

Help and advice on creating a business plan for your business, can also be found on the Small Business Advice website.