Over 500,000 new businesses are created in the UK each year, but unfortunately, only 45% are still operating after five years. There are numerous reasons for failure including financial management, innovation, marketing and competition.
Statistical research shows those companies that developed a business plan had double the profits than those that didn’t.
Additionally, the key to survival is to keep your plan current and alive. A study of failed companies showed only 30% referred to their plan whereas 81% of those still in business updated their goals and forecasts on a regular basis.
There are a few alternative packages on the market, so what makes this different?
Although most banks provide software, it’s very basic, won’t help with the challenging financial forecasting aspects and doesn’t have instructions or help.
Other packages use proprietary software that takes time to learn and master. Ours is developed using Microsoft Word and Excel so you can start using it right away.
You could get a consultant or accountant to create your plan, but those start at £1,500. Ultimately it’s your business, so use your knowledge to complete it yourself.
Above all, some of the UK’s leading business planning consultants developed the system. So why not put this software to work on your ambitions today?
There are four primary applications of business plans that this software supports:
If you’re thinking of starting a new business venture, your plan will help hone your objectives and ensure for financial projections produce the required profits.
Every bank requires a comprehensive plan to ensure the risk of lending is sustainable and won’t make any decisions without this critical document about your business.
For companies at a crossroads or requiring fresh insights, the range of entrepreneurial guides included help set new targets and introduce more clarity.
Even for companies performing to their expectations, as outlined above, those that revisit and update their corporate plans on a regular basis will survive longer.
Below is each component of the software package that walks you through the process of creating your plan, step-by-step:
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“I needed to put together a long-term business plan to cover all aspects of my new venture. I read a lot of books and attended courses, but I was struggling. Then I came across Teneric and suddenly it was all there in a format I could use and in terminology I could understand. After that, it was plain sailing to the Business Department at my local HSBC Bank”
Jill Shilcock, Managing Director, SEAS Education Advisory Service Limited.
“I wanted ideas for the type of information that needed covering in a business plan, and this gave me a template for the document I submitted to the bank. The business loan we were after was approved. If you have never written a business plan before, then I would recommend your product. It was very straightforward and offered some good advice.”
Gordon Mitchell, UK
“I needed a business plan quickly. The template was easy to use, just fill in the blanks on the wizard and refer to the help guide if I wasn't sure. Your system is good value, and I would recommend them to everyone needing a plan. Attached is the basic plan I threw together in a day for the bank. They specifically wanted cash flow projections, and the Excel spreadsheets were really what I was after from your product.”
John Waterhouse, UK