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.