Considering this time 2 years ago I hadn't realised that this was what I wanted to do - to now having written a Business Plan (with a little help from my friends) for a £6,000,000 development is amazing. Paul has written the two 3 year financial forecasts, using the huge, complex spreadsheets provided by SEIF (see previous) - one of those where changing a variable on one page, e.g. monthly utility bill, automatically updates the others, so you can play around with the figures to your heart's content. For instance, I hadn't factored in any extra payment for unsocial hours, so we were able to add on 5 day's pay per year (for staff who will work Bank Holidays - 10 days at time and a half). The forecasts take us up to 2015. We've projected the home opening for business in 2012, but I think that is extremely optimistic -there are so many factors around finding a site, getting it surveyed, getting Planning permisssion, who knows - being gazumped?
The next step is that our Investment Adviser will prepare a case for the development to a specially convened panel - by which I mean a panel which comes together when they have a couple of proposals to vet - rather than working to a pre-determined schedule. It will probably be September before we hear if we have been awarded a Business Development Grant to allow us to take the Business Plan and financial forecasts to a stage where we will be "investment ready". Then it will be a Dragon's Den scenario..... (yipes!)
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