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Writing a business plan, information on tax and compliance for your business, KiwiSaver, and useful links. |
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Managing your business
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| Your business plan |
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| A business plan sets out what your business is, your business goals and how you will achieve them, and what your prospects are. |
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| The main reasons for having a business plan are |
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helping test your idea and setting strategies to reach your goals |
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giving direction and focusing your thinking about markets, competitors and risks |
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identifying resources and funding needed |
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keeping your business on track and providing a progress measurement |
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showing you’ve thought things through and have a good chance of success |
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| You will need a well-presented business plan to borrow money or attract investors. You might also need to use your business plan for |
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showing a landlord before leasing premises |
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encouraging major suppliers to enter into an agreement and provide trade credit |
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getting feedback on your business idea |
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| Ideally, a business plan shouldn’t be longer than 10-12 pages, plus your financial information. A basic structure most businesses could use or adapt includes |
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executive summary giving a business snapshot and overall plan |
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more detailed business description of what your business is and your market |
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market analysis of who your customers and competitors are |
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summary of your sales and marketing approach |
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experience and skills of you, your management and staff |
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explanation of your business operations |
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financial data and forecasts—get advice from accountant or financial advisor |
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factors that are critical to your success such as cashflow, keeping customers |
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action plan and timetable for starting the business and achieving goals |
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short summary of prospects for investors and lenders |
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supporting documents if you have any, e.g. accountant details, staff CVs |
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| The information on this page is general in nature and Westpac recommends obtaining independent advice in relation to your particular business. |
