Small business support: Plan your future
Make planning a part of your life
Developing long-term plans for your business can help you achieve your ambitions - and deal with life's little surprises. Here are a few things you should think about when refining your business plans.
Carry out a SWOT analysis
A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is an in-depth review of your business's strengths and weaknesses, as well as any opportunities and threats that you face.
You should carry out a SWOT analysis at least once a year to help you refine your business plan and develop strategies that will achieve your goals.
Key areas to include in your analysis:
- Sales: are they rising or falling? What’s profitable – and what’s not?
- Finance: are your books in order? How’s your cashflow?
- Customers: are you listening to them? Are you keeping the profitable ones?
- Products and services: Are they meeting your customers’ needs? Could they be sold to other market(s)?
- Suppliers: are you satisfied with their products or services? If not, are there any alternatives?
- Marketing: Are you targeting the right people? Are you using the right channels?
- Staff: do they have the right people doing the right jobs? Do they need any training?
Make your bank work for you
A meeting with your Local Business Manager can be an invaluable part of the planning process.
For example, he or she can advise you on ways to improve your cashflow, help you with investment decisions and look at ways of managing your personal and business finances.
Book an appointment with your Barclays Business Manager
Build up your savings
It's important to build up your personal and business cash reserves so that you have something to fall back on if the unexpected happens. We have a range of savings and investment options for you to choose from. Savings from Barclays.
If you'd like help assessing your options, you can book an appointment with your Local Business Manager. He or she can help you choose savings or investment vehicles based on:
- Your personal and business situation
- Your desired exposure to risk
- How much you want to be involved in your investment
- The level of access you need to your savings
Useful links
If you're looking for ways to grow your business, you might want to consider: