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Business Planning outlines the options and risks involved in setting up a business. The importance of thorough planning is often overlooked and only becomes evident if the business fails. This is highlighted in a recent study by the SFEDI of 486 bankers and accountants where lack of planning was the most common reason cited as to why businesses fail. Business Planning shows how to avoid this failure by focusing on the planning stage and building on this framework as the business develops.
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Business Planning 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 This Page Intentionally Left Blank Business Planning A guide to business start-up David Butler OXFORD AUCKLAND BOSTON JOHANNESBURG MELBOURNE NEW DELHI 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 Butterworth-Heinemann Linacre House, Jordan Hill, Oxford OX2 8DP 225 Wildwood Avenue, Woburn, MA 01801-2041 A division of Reed Educational and Professional Publishing Ltd First published 2000 © David Butler 2000 All rights reserved. No part of this publication may be reproduced in any material form (including photocopying or storing in any medium by electronic means and whether or not transiently or incidentally to some other use of this publication) without the written permission of the copyright holder except in accordance with the provisions of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road, London, England W1P 0LP. Applications for the copyright holder’s written permission to reproduce any part of this publication should be addressed to the publishers British Library Cataloguing in Publication Data Butler, David Business planning: a guide to business start-up 1. New business enterprises – Planning 2. Business planning I. Title 658.1′141 ISBN 0 7506 4706 X Typeset by Florence Production Ltd, Stoodleigh, Devon Printed and bound in Great Britain by Biddles Ltd, Guildford and King’s Lynn CONTENTS Preface vii Chapter 1 The importance of business planning 1 Chapter 2 The structure of the business plan 12 Chapter 3 The business idea 44 Chapter 4 Personal skills and abilities 62 Chapter 5 Identifying relevant legislation 76 Chapter 6 Financial planning 106 Chapter 7 Financial controls 125 Chapter 8 Sources of finance 140 Chapter 9 Sales and marketing 153 Chapter 10 Monitoring and controlling quality 175 Chapter 11 Customer service 188 Chapter 12 Premises requirements 198 Chapter 13 Physical resource requirements 211 v 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 Contents 1111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 3011 1 2 3 4 5 6 711 Chapter 14 Recruiting and employing staff 224 Chapter 15 Formulating the business plan 244 Chapter 16 The NVQ assessment process 251 Appendix: Summary of Units and Elements of the revised Owner Manager NVQ standards 268 Index vi 273 Preface Pref