skip to Main Content

Business Plan Important Information

Banks appetite for funding

At a recent event the HSBC announced that they had allocated £100 million to support businesses in the Peterborough & Mid Lincolnshire. Importantly the HSBC are able to make quick decisions and over 70% of requests from micro sites are decided instantly. At the time of writing over 80% of formal borrowing requests are currently being approved. So if funding is available what does a lender look for in a plan.

What does a lender look for in a business plan

  • Details of your skills, how your business operates and your future goals
  • Confirmation of your own financial investment
  • Clarification on the purpose of the lending and how the investment will benefit
  • Confirmation on how you evaluated the amount of money required
Business Plan Important Information

A business plan will

  • Help to define your business strategy
  • Identify the next steps for business
  • Identify and plan for cash flow peaks and troughs
  • Help you clarify strategy to others

Appetite for Growth

  • 75% of businesses report an ambition to grow over the next 3 years
  • 15% indicate a substantive growth ambition
  • The department for business innovation and skills conducted research in understanding growth in small business and identified 3 key areas sectors that impact
    • The Market: i.e. competition and finance
    • Vision : i.e. Planning and risk
    • Capacity: i.e staff, cash, skills and premises

Mindset

Businesses that achieve growth have

  • Faith that business improvements yield benefits
  • Capability to implement improvements
  • Realise their full potential
  • Have the appropriate mindset
  • A desire to grow and follow through on actions
  • A determination to grow which can be clearly demonstrated through their ambition, opportunity and capacity for growth

Developing your Business Plan and Sales / Marketing Strategy

Business Plan Important Information

If you are looking for growth but would like help in developing your business plan or Sales and Marketing strategy the Growth Accelerator initiative, click here for more information on funding developments click here

Back To Top