Show how committed you and other members of the management team are. Compare the efficiency ratios with competitors, or with similar industries. Useful figures might be sales, average salaries, employee retention rates and measures of productivity. For example, any special regulations, whether the industry is dominated by a few large companies or any major changes in technology.

In the longer term, when any legislative changes have been fully implemented, we will also consider consumer and firm confidence in the FCA and UK financial system. Recognise and reduce harmParticipate in the Financial Inclusion Policy Forum and work closely with the Government and other bodies to support consumer access to products and services under our consumer protection and competition objectives. In previous years, we structured our activities around the sectors we regulate. We are also doing things differently this year to align with the Strategy and the four consistent overarching consumer and wholesale market outcomes we expect financial services to deliver. This Business Plan details the work we will carry out this year under each of the 13 commitments from the Strategy where we will focus our work. You should use research and, if possible, evidence, to support your conclusions and include an action plan.

To help you through each step of the plan, our template is designed to guide you on the correct process at every stage, with plenty of advice on how best to complete each section. Get focussed and organised with our business plan template that includes some helpful hints as well as details of what to include in it. It’s really important that potential investors can understand what your business is all about from a quick glance at your plan. Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout.

Traditional business plans take longer to write and can be dozens of pages long. If you’ve got multiple ideas in mind, a rough business plan for each can help you focus your time and energy on the ones with the highest chance of success. This summarises the key points, starting with the purpose of the business plan. So it’s not an overstatement to call your business plan the ‘bible’ you’ll use to help establish your company. And if you’re looking for funding, your business plan needs to convince people to back your idea. But a business plan isn’t something you write down when you’re setting up and never look at again.

Who is involved.Many investors say they invest as much in the people as they do in the business. Share some information about people’s roles, experience and passions. There are numerous reasons why you might want to start a business. And for a limited time, this member resource is open to everyone.

The resilience of the banking and insurance sectors, and the importance of strong standards, were both apparent in the recent Covid-19 crisis. So you can then see how poor cash management creates real issues. Make sure you work with your accountant, in the creation of your business plan and monitoring performance in relation to it. The documentation of well thought through ideas, combined with a shrewd strategy, and carefully planned projections will markedly improve your chances of long term survival and growth. Financials.Provide details about sales, costs, break-even points and where investment will come from. If you’re looking for people to invest, you should include information about likely returns.

Enhancements to the PRA’s authorisations process will include an improved control framework, which aims to drive up quality standards for core regulatory transactions and change management. The PRA will also work with the FCA to further automate and improve its core approach to master data management. The PRA will continue work to develop a market which firms can easily enter and exit.

Firms who don’t meet our minimum standards put consumers and markets at risk. We will act faster against firms causing harm to consumers and/or markets. We will challenge ourselves to find the limits of our powers to remove firms from the market. In November 2021, we set out changes to our Enforcement Guide and Decisions Procedure and Penalties Manual to streamline our decision-making and governance to enable us to be more effective and efficient in stopping harm to consumers and markets. Following consultation, we moved some decision-making on statutory notices from our Regulatory Decisions Committee to Executive Procedures so that the RDC focuses on contentious enforcement cases. We are publishing this Business Plan when the external environment is changing rapidly.

The guide is an annotated version of the Business Plan template with notes from our Business Advisers about what type of information, examples and evidence to include in order to help us understand you and your business. While we encourage you to use this template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information. The Corporate Plan for Education outlines the strategic direction for the Department and the wider education service and sets out the key priorities and objectives during the period that it covers. The Corporate Plan is developed from the Programme for Government, and so will follow once the Programme for Government has been agreed and published. The Plan has also prioritised the Grant Scheme and direct funding for employers through the Skills and Training Funds, with £8m earmarked for small and micro businesses, £3.5m for medium-sized businesses, with a £3m Leadership and Management Fund for large firms.