The Pool of
Specialists form an integral part of our
online services directory, in which we
highlight specialist services which can be of particular use to Hidden Art
designer-makers. Hidden Art Level 2 members can use their Support Voucher
towards any of the listed design-based services.
Keith Benson
Keith has been working exclusively
in the creative industries since 1968 and established his consultancy company, K Benson Associates, in 1991. In recent
years, he has concentrated on assisting businesses in the creative sector to
obtain external funding for their companies.
What are the key areas of a good business proposition?
The most important section of a business proposition for funding
is the sales & financial forecasts section. This is the part of the
proposition that a potential financing organisation will turn to first, as they
will need to be convinced that the business has a realistic chance
of generating acceptable profits and cash flow within a finite
timescale. The forecasts should cover at least the next three
years.
Is there a certain length of time
that should be spent on a business proposal?
You should spend whatever
time is necessary on the development of a business proposition for funding to
ensure that it provides a detailed picture of the planned growth of the
business over the coming years, in terms of sales, expenditure, profitability,
cash flow, sales & marketing, staffing, products, etc.
Where is the best place to turn
for information on formulating a business proposal?
Whilst business websites or
other published material can advise on the key information to be included in
any business proposition for funding, it may be beneficial to approach an
experienced business advisor for help in the formulation of the type of
business proposition that will be attractive to a prospective financing
organisation.
