Business Planning

Question 1

Can you provide me an example of business planning?

Answer 1

Discuss goals, objective, targets and performance.

Question 2

What keys factors would you find in a business plan

Answer 2

Analysis of the opportunities and risks of the business and the sources required to serve clients

SWOT analysis

Budgets, cash flows and financial audit controls are important to ensure the correct allocation

Question 3

What are the different forms of business vehicles ?

Answer 3

Sole practitioner
Partnership
LLP
Limited company
PLC

Question 4

What would firms short, medium and long term plans be for a business?

Answer 4

Include in business plan: SWOT analysis of opportunities, risks, resources to service clients

Fee forecasts to plan business activities and ensure minimum profit margin

Budgets, cash flows, financial controls important to ensure correct allocation of resources/expenditure