Westmeath County Enterprise Board
City and County Enterprise Boards are funded by the Irish Government and part-funded by the European Union under the National Development Plan 2000-2006
European Structural Funds Your Plan – Your Future
TYPICAL SECTIONS OF A BUSINESS PLAN TYPICAL SECTIONS OF A BUSINESS PLAN
1. Executive Summary
2. Contents page
4. The Product or Service
5. Business Requirements
6. Management Team / Personal
7. The Market
8. Financial Information
9. Future Development
GUIDELINE DETAILS TO BE INCLUDED IN EACH GUIDELINE DETAILS TO BE INCLUDED IN EACH
1. EXECUTIVE SUMMARY
a) Give a brief summary of what the business does
b) State how long you are in business
c) State who the owners and key management are
d) State the business objectives.
2. CONTENTS PAGE
List sections included and corresponding page numbers
3. INTRODUCTION / BACKGROUND
Give a brief history of the business including when the business
commenced, what legal structure the business operates under, the
business activities undertaken and the management structure of the
4. THE PRODUCT OR SERVICE
a) List the range of products/services you currently provide b) List new products or services you wish to provide c) Describe the benefits of your products/services
d) Describe briefly how these products and /or services are produced
5. BUSINESS REQUIREMENTS
In this section, estimate the costs required to expand / start-up your
business. Please outline in detail what machinery,equipment,building or
adaptation costs are required to meet your needs.
Requirements for expansion or start up Requirements for expansion or start up
Description Estimated Cost Description Estimated Cost
Building Costs Building Costs
6. MANAGEMENT TEAM / PERSONNEL
a) State who the key people in the business team are
b) List their relevant qualifications and work experience
c) State current number of employees and proposed number of
Detailed curriculum vitaes could be submitted in the appendices if
management feel that they are relevant.
a) What evidence do you have that there is a need for your product or
service? Have you spoken to any future customers? What was there
reaction? Have you obtained any forward orders?
b) Who are your current /potential customers?
c) Who are your competitors?
d) Have you any advantages over your competitors?
e) Is your product or service a repeat item or will sales be a once off?
Organisational target markets can be classified by type, size and number
of employees. Similarly, consumer markets can be classified by
individuals: Age profile, gender, marital status, hobbies, children,
Expected level of sales per month could be highlighted in this section.
a) What price will you charge? Why?
b) What are your terms of payment? (E.g. cash up front, 30 days credit.)
a) What are your customer’s most interested in, e.g. low price, high
quality, reliable service… What buying motives are you going to
emphasise and why?
b) How will you promote your product or service, e.g. advertising,
personal selling, direct mail etc? Details should be outlined.
Describe your choice of business location. How will you distribute your product or service to customers? Will your current and /or potential customers have easy access to your product/service?
Outline details of your distribution plan.
8. FINANCIAL INFORMATION
Include the following:
a) Cash flow forecasts (See sample overleaf) b) List potential sources of finance (See sample overleaf) c) Budgeted profit and loss accounts (See sample)
It is important to write down the assumptions upon which the financial projections are calculated. Be as realistic as possible and not too optimistic.
Existing business should enclose copies of three years accounts if
9. FUTURE DEVELOPMENT
a) Do you expect your business to change over the next three years? e.g.
as a result of future legislation or market trends.
b) Describe future business potential, e.g. will you take on a number of
employees or stay on your own, business expansion plans,export
The appendices may contain back-up information e.g. brochures of the
business, curriculum vitaes, etc)
Cash InflowsCash Sales
A Total InflowsCash OutflowsCash purchases
Car maintenanceMotor tax
Loan repaymentsPersonal drawingsVAT payments
Accountant /solicitorRent & rates
Cleaning/tea sundryB Total Cash OutA-B=C Net OutflowsD Opening balanceD+C= Closing balance