To assist in creating a blueprint for businesses aiming to expand, Hitachi Capital Business Finance has rolled out its inaugural “Smart Business Planning” initiative that follows its ongoing pledge to help those who own small- to medium-sized businesses (SMBs), Process and Control Today reported.
The launch occurs as British companies are not sure about the future and a number of firms are seeking to have their companies return to the black or continue to expand.
“At Hitachi Capital, we have been working with [SMBs] for 35 years and know that time and resource is sparse,” Hitachi Capital Business Finance Managing Director Gavin Wraith-Carter said, according to the report. “Despite the pandemic, small business confidence has bounced back with speed, and we want to provide additional help where necessary so that these leaders can meet their business goals in the months ahead.”
The “Seven Steps to SMART Business Planning” include creating business goals, using an income statement and forming a game plan for marketing, among other steps, the report stated. For creating business goals, the framework indicates that companies should study, examine and know the state of business at the current moment in time and where the company should be down the road.
And, when it comes to making a game plan for marketing, businesses should consider the reason behind a marketing playbook for a company, know how to take away the greatest utility from a strategy and realize what does not need to be included in the plan, the report stated.
Hitachi Capital Business Finance data indicates that over 80 percent of SMBs are implementing distinct blueprints to strive for expansion as lockdowns are relaxed.
Last October, Hitachi Capital Business Finance unveiled the rollout of its Smart Funding payment offering, which was to let SMBs make their own repayment schedule that adheres to their cash flow forecasts in addition to the seasonality of their operations, per news at the time.