 |
|
|
|
We asked an experienced business banker from one of the UK's top four banks what she expected to see from a business plan.
"I expect a client to really know their finances thoroughly. I will dig into cashflow, as I believe that this is the area where mistakes are most commonly made. Anyone can write a cashflow to say anything; but I want to know how, why, who and so on.
I want to know if the person presenting the plan has a tight understanding of areas such as people, managing people and managing risk.
Something I am keenly interested in is whether the client understands the difference between loans, overdrafts and asset finance. Do they understand what working capital is and can they demonstrate what it means in their case? We encourage people to look into grants - has that been considered yet?
The business plan must be clear and succinct when it comes to the bank. Too much waffle detracts from a plan.
Naturally finance is the focus, but we also want to see a strong focus and understanding of all key areas."