Want to take your business dream further and make it a reality?
Once you have registered and received an application pack from STWLC – ALL of the below organisations will offer one initial individual session FREE OF CHARGE and without obligation.
Based on Ross Walk, Belgrave, Leicester; NBV runs regular, free courses for individuals wishing to start in business. The course covers raising finance, regulations in connection with self-employment, record keeping and other matters pertinent to starting a business.
For further details, please contact them on 0844 887 2568
Sharman Fielding (Accountants)
Located at 57 The Oval, Leicester, LE1 7EA; Mr Sandesh Jesrani will review and assist with the production of a business plan. The telephone number to call is 0116 233 7707
Based at Charnwood House, Meridian Business Park, Harcourt Way, Leicester, LE19 1WP; Mr Bryan Freeman will review and assist with the production of a business plan. The telephone number is 0116 282 7000.
Newby Castleman & Co (Accountants)
Based in West Walk Building on Regent Road in Leicester, LE1 7LT; Samantha Faux will provide assistance in the production of a business plan. The telephone number is 0116 254 9262.
HSP Tax (Accountants)
Based at Whiteacres, Off Cambridge Road, Whetstone, LE8 6ZG; Tessa Fowler will provide assistance with your business plan. To contact her, please call 0116 326 9050.
Mayfield & Co (Accountants)
Based at 2 Merus Court, Meridian Business Park, Leicester, LE19 1RJ. Thomas Mayfield will provide assistance in reviewing or preparing your business plan. To contact him please call 0116 289 6000.
Based at Unit 8, Narborough Wood Park, Desford Road, Leicester LE19 4XT. Craig Tipton is the person to contact to provide assistance with business planning. To contact him please call 0116 288 9999.
Based at The Counting House, High Street, Lutterworth, LE17 4AY. Roger Platt is the person to contact in relation to business planning. He can be contacted on 01455 243773.
DMU Legal Advice Centre
The DMU Legal Advice Centre uses the expertise and passion of DMU Law students to provide free legal advice to members of the local community and small businesses.
By following strict, tried and tested operational rules, the Centre offers advice on a range of legal matters and provides clients with a professional experience.
You can all the Legal Advice Centre on 0116 257 8918.
Creating Your Business Plan
A business plan is arguably the most important document you will create when starting up your new business. An effective business plan is simply a comprehensive statement, written down, that outlines your business and portrays a thorough plan of action.
Here at the Sir Thomas White Loan Charity, we request copies of your business plans to be submitted along with your completed application form – and we only accept plans completed within our template, which is delivered to you as part of your application pack.
However, some people struggle to know what to include in their business plan – no matter how fantastic their business idea may be. Here are six quick tips to help you get your idea down on paper.
Before You Get Started
This is the point where you collate all of your detailed research, assumptions and random musings and get them written down on paper, so that you can refer to them when completing relevant sections of your business plan. Be focused; this plan is the first form in which the Sir Thomas White Loan Charity will see your business, so it’s important to ensure that your enthusiasm and attention to detail are apparent.
A business plan is a necessity, whether it’s to achieve funding or provide clear direction as you’re getting started. Although the plan may change as you’re getting started, without a business plan from the word ‘go’, your business will eventually run into trouble.
Step 1 – Describe Your Business
Generate a mission statement for your business and accompany it with a company overview. What are your company’s core values and how will they be incorporated into the service/products provided to customers or clients?
Step 2 – Products and Services
State the exact nature of products/services that your company will be providing; also identifying ways in which your business is different from that of your potential competitors. Finish by defining the benefits of using your company and explain who your target markets are and why they should go to you. Also mention how you will go about finding more customers or clients.
Step 3 – Marketing/Sales: Know Your Market
Set a value on your product or services and provide detail of your customer profile. From there, evaluate what you can afford and simply what you MUST do to promote your business. How will it attract and maintain your customers/clients?
Step 4 – Forecasts
Produce a SWOT analysis. SWOT is the strengths, weaknesses, opportunities and threats you believe to be integral to your business’ market. Simply put, these are your best and worst-case scenarios.
Step 5 – Management Team
Outline your team, their job descriptions and responsibilities – even if you’re initially a one-man band. Recognise you (and your team’s if relevant) strengths and weaknesses, and identify the areas that may require additional recruitment or outsourcing.
Step 6 – Financials
This may include a personal financial statement, a break-even analysis and a 12-month profit and loss projection. Not only is this important for us at the Charity in considering your application; it is also helpful in allowing you to develop a strategy in using the funds already available to best effect.
There are many organisations that are able to provide help and advice when formulating your business plan, and can also help with feedback and direction when it comes to researching your market.
Please CLICK HERE for links to these organisations’ respective websites – or get in touch with the advisers above to arrange an appointment to discuss your business plan.