Introduction to business plans
for SMEs
Maggie Weaver
Shaftesbury Associates
The SME Business Plan
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What’s it for
What’s in it
How do we contribute
How do we benefit
What’s a Business Plan for?
• “Selling” tool for getting financing
• First payoff: encourages realism
• Determine product or market niche
• Long-term payoff: management tool
Business plan websites
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Descriptive
Table of contents
Template
Interactive (online)
Software
Sample plans
What’s in an SME business plan?
• Business overview
• Regulatory issues
• Products/services
• Risks
• Industry overview
• Implementation plan
• Marketing strategy
• Financial plan
• Management & staffing
• Executive summary
Interactive Business Planner
http://www.cbsc.org/ibp
Interactive Business Planner
Section 1 – Business Overview
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Business history
Vision & mission statement
Objectives
Ownership
Location & facilities
Section 2 – Products/services
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Products/services description
Key features
Production process
Future products/services
Comparative advantages in production
Business Overview – ownership
http://bsa.cbsc.org
Section 3 – Industry overview
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Research sources
Size of industry
Key product segments
Key market segments
Purchase process & buying criteria
Description of industry participants
Key industry trends
Industry outlook
Industry overview – getting lucky
ISA Reports http://www.stat-usa.gov
Industry overview – getting lucky
InfoExport http://infoexport.gc.ca
Section 4 – Marketing strategy
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Target markets
Key competitors
Analysis of competitive position
Pricing strategy
Promotion strategy
Distribution strategy
Section 5 – Management & staffing
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Organizational structure
Management team
Staffing
Labour market issues
Section 6 – Regulatory issues
• Intellectual property issues
• Other regulatory issues
Staffing – labour market issues
Regulatory issues – example
Section 7 – Risks
• Market risks
• Other risks
Section 8 –
Implementation plan
Section 9 – Financial plan
• Balance sheet
• Pro-forma income statement
• Monthly cash flow statement
• 3-year cash flow forecast
Section 10 –
Executive summary
How do we contribute?
• Information resources
• Examples
• Educate/promote
• Imagination
How do we benefit?
• Understand a client group
• Knowledge of the local business
environment
• Contribute to economic growth
• Template to build our own
business cases