Assignment brief: Business plan- 1,800 word paper plus spreadsheet – 10 January 2022
A business plan for a new business launch
Summary of the business idea and risks
Outline and discussion of costs
Break even point / margin of safety
Key performance indicators
Financial and non-financial Ideas:
What type of business; Where will it be based; Who will be your customers; Will you have any competitors? What other risks will the business face?
Types of business:
Try to chose a business that you are familiar with or have a passion for
Could be manufacturing: textiles, engineering, boat building, foodstuffs, publishing, construction, etc
Services: financial services, catering, coffee shop, retailing, consultancy, software, entertainment, sports coaching,
Not for profit: charities, social organisations
Background research: Carry out some research into your business idea:
Size of the market
Number and location of competitors
Why would customers / users prefer your product or service?
What risks does your business face?
What Initial Investment Will Be Required? – How will your business be financed? Premises; Equipment; Staffing levels; Initial bank balance; Stock How Will Your Income Be Generated?
COSTS – Outline and discussion of costs
– Fixed and variable costs
– From where will your business operate?
– What initial equipment or stock will you need?
– Will you be employing any staff?
– What running costs will you incur?
Profit Forecast (First Year Of Operation; Income / Revenue / Sales; Costs; Contribution; Profit; Comments)
Cash Budget (First Year Of Operation; Receipts; Payments; Net Cash Flow; Opening Balance; Cash Balance C/Fwd; Comments)
Break Even Analysis (Break Even Point; Margin Of Safety; Show Your Calculations; Comments)
Key Performance Indicators
(What are the critical success factors for your business; What measures (KPIs) will you use; Financial and non-financial measures; How will you collect the information; How frequently? Use balanced scorecard approach.
Key text: Atrill & McLaney, Management Accounting for Decision Makers
Drury, Management Accounting for Business
Dyson & Franklin, Accounting for non-accounting students Kaplan knowledgebank
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