A business plan is a tool for decision-making. The business plan is a living document that should be continuously reviewed in light of the business environment and actual performance.

• It enables the directors to oversee business performance in the company.

• It gives the directors a current assessment of the business as well as a roadmap for the future.

• It helps a business grow, both organically and through outside funding.

• It is essential to have an up to date business plan in order to secure financing, ranging from an overdraft facility or bank loan to venture capital funding.

The objectives of the business plan are first to develop and communicate a plan of action that will achieve the company's strategic objective. Then to provide a means of monitoring progress towards that objective and of stimulating alternative action if the objective is unlikely to be met by the original plan. These cannot be achieved unless the plan defines the strategic objective and includes benchmarks or performance measures at key stages during the year.

For a business plan to be effective those who will have to implement it should own it. So, Abednego Consultants Ltd will assist by providing value add to the process, whilst ensuring that ownership of the business plan is in-house.