Business Articles
Top 10 UK Resources to Help you Write a Winning Business Plan
Writing a business plan is one of the most important things an
entrepreneur must do when starting a new business. However, writing a
compelling business plan is easier said than done, particularly when time can
be so precious. This article outlines the key resources available to
1. Business
Plan Proﾮ
Business Plan Pro is the best selling business-planning software
available for several reasons. It is easy to use, saves time, and has over 500
sample plans to get you started. It also provides a structure whereby you can
complete a plan in a methodical manner, while enabling you to benefit from a helping
hand at every step.
Where: Business Plan Pro 2006 is available from Amazon, PC World and www.paloalto.co.uk
Cost: RRP is only ﾣ99.99 for the Standard version and ﾣ159.99 for the
Premier.
2. Business
Plan Competitions
Numerous business-planning competitions are taking place in the
The main advantages of submitting a business plan to a competition
include:
o
Tap into Increased Support for Entrepreneurs in the
o
Obtain Critical Independent Analysis of Your Business
Plan
o
Gain Access to Mentors and Networking Opportunities
o
Improve key Transferable Skills, e.g. Presentation Skills
o
Enhance Your Understanding of What Investors Want
For further information visit www.bplans.co.uk/write_a_business_plan/article.cfm/285
Where: A list of some of the main
www.paloalto.co.uk/academic_sales/business_plan_competitions.cfm
Cost: Entry costs are usually negligible, although some competitions
limit entry to students or locals.
3. Start-up
Websites
There are a number of startup websites that can help you understand
what needs to be done and how. These websites normally consist of a mix of
articles and relevant products and services from third-party vendors. Most also
have specific business-planning sections to help you with your plan. The
following three well-known
Where: www.startups.co.uk , www.clearlybusiness.com, www.bytestart.co.uk
Cost: Free
4. Government
Sites
There are also a number of government websites designed to assist people
in starting a business which can also help you in writing a business plan.
ﾷ
Companies House www.companieshouse.gov.uk
The website contains information
on incorporation procedures. It also provides annual accounts of companies
which can be purchased so as to enable you to assess the financials of
comparable companies.
ﾷ
HMRC www.hmrc.gov.uk
HM Revenue and Customs has an
easily accessible site where you can access information and calculators
relating to employing people, paying VAT, paying Corporation Tax, and so on.
Where: As above
Cost: Free
5. Local
Advisor
Despite the availability of a range of different online resources, there
are occasions when professional advice is highly recommended. While there is
undoubtedly a trade off (professional advice usually costs), there are some
decisions that should be made only after consultation with professionals, such
as choosing the legal structure of the company. While local accountants are a
natural starting point, there are also a number of other bodies that can
provide information and advice, and can point you in the right direction for more
complex concerns.
ﾷ
Business Link www.businesslink.gov.uk
Business Link provides
information, advice and support to help people start, maintain and grow their
business. It is an excellent site with some really great sections and clear
sign posting to additional resources. There is also a postcode search facility
so you can track down your nearest local advisor.
ﾷ
National Federation of Enterprise Agencies (NFEA) www.nfea.com
The National Federation of
Enterprise Agencies (NFEA) is the membership body for Local Enterprise
Agencies, and other similar organisations. It forms a network of independent,
not-for-profit local agencies that provide a comprehensive range of free
services including a facility to search for your local agency.
Where: As above
Cost: Free
6. Funding
Websites
Entrepreneurs need to consider their financing at the start-up stage and
most will look to outside help to assist them in financing the start-up phase.
A good understanding of the implications of the various sources of funding is
important, not least with respect to the various obligations arising under
each. At its most basic, the sources of funding are either debt based or equity
based, and each class confers certain obligations on the recipient of the funds.
If the business plan is used to secure funding it will need to clearly outline
the benefits to the investor, and the terms of investment, as theyll be
seeking to assess their risks, as well as the ability of the firm to generate
free cash flows. Outside of the traditional sources of finance, it is also
worth exploring the following sites, which explain the merits of grant or VC
funding. Obviously the conditions for securing either are fairly strict, so
both sites will indicate which issues you should consider, as well as information
on the availability of the funding.
ﾷ
J4B www.j4b.co.uk
The site allows quick and simple
searches of the j4b database of business grants and loans the most
comprehensive database of its kind in the
ﾷ
BVCA www.bvca.co.uk
This is the website for the
British Venture Capital Association (BVCA) which has over 170 full members and contains
a directory that enables users to search for a local member.
7. Bplans
Bplans.co.uk contains extensive business-planning resources and is also
owned by Palo Alto Software, makers of Business Plan Pro 2006. There is an
extensive back catalogue of articles, with new additions a regular occurrence.
It also contains a number of free sample business plans, some calculators. and
links to a range of appropriate resources.
Where: www.bplans.co.uk
Cost: Free
8.
Scavenger by Cobweb
Scavenger reports are essential reading material for anyone starting up
a business in the
Where: www.scavenger.net
Cost: Individual
reports cost around ﾣ5.
9. Sites
with Demographic Data
There are also numerous resources you can use in assessing likely demand
for your goods or services. Websites such as www.caci.co.uk/acorn and www.upmystreet.com
provide extensive free demographic data about areas based on
Where: As above
Cost: Free
10. Your
Local Library
Finally, libraries can be excellent resources, helping you access
information from a host of disparate sources. They can be particularly useful
for researching hard-to-access data relating to markets and potential suppliers.
The Business and IP Centre at the British Library www.bl.uk/bipc/ is just one example of a new
resource specifically created to support entrepreneurs in the
Alternatively, your local library may stock one of Pearsons excellent
titles on starting a business and writing a business plan. www.pearson-books.com/bplans
Summary and
Conclusion
Writing a winning business plan can take time and effort. However,
utilizing the above resources should make the job a lot easier and help you to
gain a thorough understanding of the fundamentals that underpin every
successful business. Good luck!
[1] I have an admission to make at the outset I work for Palo Alto
Software, makers of Business Plan Pro. However, rather than omit this resource
on the grounds of impartiality I have decided that this would be doing the
reader a disservice, given it is one of the most powerful resources availablehence
its inclusion.
About PaloAlto
Alan Gleeson is the Managing
Director of Palo Alto Software, Ltd., creators of Business Plan Pro® 2006. He
holds an MBA from
All articles reproduced with permission from This Is Your Business