writing a business plan

[Jockers84]

Hi, I'm wondering if anyone has any pointers on writing a business plan? Hope to step up to a larger unit in coming years and think I should really have a business plan in place. Who should I speak with? At a bit of a crossroad with IR35 tax reforms, looking to close down either the LTD off farm business or the self employed business, will consult my accountant but keen to show a healthy track record to improve my chances.

 

[bazza3034]

YouTube does tutorial on them

 

[Jockers84]

YouTube does tutorial on them

Are they for farming or generic guide to business plans? Something I've never done before but know I'll need to stand a chance.

 

[Deereone]

There are plenty of books out there to choose from. I followed one to the letter (ant. 30years ago) and produced a 5 page document, I showed it to a brother who works in the city, he reduced it to 2 pages before I presented it to our bank manager. The bank manager was most impressed and gave us the loan we were looking for.

The process of preparing a business plan makes you think very hard about all aspects of your business and is a very worthwhile exercise whether you intend to show it to others or not.

 

[Highland Mule]

Hi, I'm wondering if anyone has any pointers on writing a business plan? Hope to step up to a larger unit in coming years and think I should really have a business plan in place. Who should I speak with? At a bit of a crossroad with IR35 tax reforms, looking to close down either the LTD off farm business or the self employed business, will consult my accountant but keen to show a healthy track record to improve my chances.

Your off farm client would advise on IR 35 status, and not a lot you can do about it, as I understand. Are you planning giving up off farm work completely or just going on the books with them? Ltd Co has costs over SE, so might be understandable to do so. I’m happy that my client/ contract is still right side of the rules, but plenty are not.

As you say, it’s best to get advice from your accountant.

 

[Jockers84]

Yes they’ve deemed me within IR35, back PAYE for the first time in over a decade. I work flexi-time so compliments the Agri venture.
I’ll speak with my accountant, SE books have been reasonable but with expanding the business year on year, everything has gone straight back in. LTD co on the other hand has 12years of positive trading, I think this would look better to any prospective landlord? Both business do support each other, and it’s me as an individual that they’ll be placing trust in to honour the lease.