“Effective business planning isn’t just good practice — it’s a legal and strategic necessity. Under the Companies Act, directors must promote long-term success, manage risk, and maintain accurate financial control. At Holland & Co, we help businesses turn these statutory duties into practical, forward-looking plans that drive growth, ensure compliance, and build lasting stability.”
— Nigel Holland, Principal, Holland & Co Chartered Accountants
Business planning It is often said that “Failing to plan is planning to fail.”
For many business owners, day-to-day pressures often push strategic planning down the priority list. Yet effective business planning is not simply a management exercise — it is a fundamental element of good corporate governance and financial control, both of which are underpinned by UK legislation.
Under the Companies Act 2006, directors have a statutory duty (section 172) to promote the success of the company for the benefit of its shareholders, having regard to long-term consequences, employee interests, business relationships, and the company’s reputation. Strategic business planning is a practical means of fulfilling this duty, ensuring that directors make informed, responsible, and forward-looking decisions.
Similarly, section 386 of the Companies Act requires that every company keeps adequate accounting records — a legal obligation that is best satisfied through effective financial planning, forecasting, and regular review.
Sound business planning also supports compliance with HMRC and other regulatory requirements. Accurate budgeting, record-keeping, and performance tracking ensure that tax obligations are met on time and that decisions around capital investment, dividends, and remuneration are made in a tax-efficient manner.
In addition, well-prepared financial forecasts are essential when seeking funding or complying with lender covenants under the Companies (Miscellaneous Reporting) Regulations 2018, which encourage greater transparency and strategic reporting.
At Holland & Co Chartered Accountants, we view business planning as an ongoing, legally and commercially essential process. We assist clients in preparing detailed, compliant, and forward-thinking business plans that serve as living documents — guiding decisions and meeting the expectations of regulators, investors, and stakeholders.
Our planning support covers: Developing long-term strategic goals aligned with section 172 director duties Preparing detailed financial forecasts and cash flow projections in compliance with accounting standards Reviewing business structure and tax implications to ensure full HMRC compliance Conducting risk analysis and developing contingency strategies Monitoring actual performance against budgets and adjusting plans accordingly Supporting funding applications, including investor presentations and bank finance proposals.
A robust business plan provides clarity, control, and compliance — protecting your business from financial uncertainty and strengthening its long-term position.
Contact us today to arrange a business planning consultation. We’ll help you design a roadmap that not only drives sustainable growth but also ensures your business meets its legal, financial, and strategic responsibilities.
