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 Tip: business plan red flags

 

 Consider the following warning signs when considering starting or growing your business as they can be some of the reasons why a business plan could be rejected:

  • Over-gearing of the business
  • Insufficient experience of key management – the inability to successfully manage & grow the business
  • The business owners are not actively involved in the business
  • The market for the product is clearly saturated or non-existent
  • Inability to justify various assumptions in the business plan – failure to demonstrate how market share will be captured
  • Conflicting information between the business plan and supporting data will result in the ability of the entrepreneur being called into question
  • Failure to deliver key outstanding agreements or requirements that are essential to the success of the plan, such as major contract which does not materialise
  • Non-compliance (legal, statutory, tax) in existing companies that wish to expand
  • A poor credit rating does not bode well at all
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