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24 May 2010
Titles that covered this story included the Financial Times, 22 May 2010.
- Free initial reviews for business plans seeking investment
- Turnaround within three days
- Submissions reviewed by experts
A new free business plan review service for entrepreneurs and small companies looking to attract investment has been launched by UHY Hacker Young.
The new service, which allows business plans to be submitted for review online, will provide detailed feedback on all aspects of the plan within three days of submission.
Laurence Sacker, Partner in the Corporate Finance team at our London office comments:
“Crucial to these new business ventures attracting investment is getting proper, structured feedback on their business plan as quickly as possible.”
“As the economy recovers and the business community is finally able to look forward with a sense of optimism, many individuals are deciding to go it alone and try and launch ideas they might have put on hold during the recession.”
“The new coalition Government has admitted though that SMEs and startups are facing serious problems borrowing from the banks or raising equity investment. One thing businesses can do now, ready for when they approach the banks or other funders, is ensure their business plan is spot on.”
“So many business plans are not adequately tested before being implemented and often the assumptions underlying the business plan have not been properly challenged. That process is central to this service.”
“We are happy to look at business plans from all sectors of the economy.”
According to Laurence, promising business plans can then be forwarded to potential funders once they have passed UHY’s review process.
“The crux of this service will be to refine the encouraging financial plans of the entrepreneurs who approach us to make them as robust as possible, and thereby giving them the best chance of raising the funds they seek.”
“Most business plans only get one chance to make an impression, so it is vital entrepreneurs get every element of the plan right. This scheme will assess plans for any weak spots and offer practical solutions.”
In parallel with this, we are launching an online investors’ database for private investors in order to complete the virtuous investment circle.
Laurence Sacker adds: “We want to encourage investment into the startups that come to us with promising business plans, and this will put them in touch with backers who can help them take their ideas to the next level.”
Further guidance on developing a business plan can be found on our website, and any business plans should be sent to businessplans@uhy-uk.com.
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