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Steps to be taken in developing a business plan

A Quality Business Plan is the Key to Success

One of the main steps that a business entity takes is long-term strategic planning. If your goal is to create a strong, competitive and profitable business, then a comprehensive business plan covering a description of a business idea, which will include information on production, distribution, advertising and sale of a product or service, is extremely important. A professionally prepared business plan is not only limited to attracting investments, but also plays a key role in sustainable development of the enterprise. How to prepare a business plan for long-term development? Entrust this work to us, professionals!

Does Every Business Owner Need a Business Plan?

The sphere of entrepreneurship is very diverse, but regardless of what the company produces or sells, and in which industry it operates, a business plan is an integral part of the path to success.

If you need any of the abovementioned, you must have a business plan by all means:

  • To check the soundness and needs of a business idea before seeking funding and starting a business;
  • To explain rationally the goals and prospects of the enterprise to employees;
  • To attract banking, private and public investors to your business idea, proving that it is profitable and competitive;

The prepared business plan will help to establish and organize work tasks, realize short-term and long-term goals and determine the company’s position in the market. Therefore, a successful business plan is considered one of the main assets of the enterprise.

 

According to What Funds, Standards and Minimum Requirements Do We Develop a Business Plan?

  • Business plans submitted to the Entrepreneurship Development Fund
  • Business plans for investment promotion provided to the Ministry of Economy
  • Business plans submitted to the State Fund for the Development of Information Technologies
  • Business plans provided to the Mortgage and Guarantee Fund
  • To Agricultural Credit Agency
  • Development of business plans for Industrial Parks and Quarters
  • Development of business plans for banks
  • Development of business plans according to international standards for foreign investors.

 

Why Should You Choose Just Us?

  • Company is accredited by the Consultative Program for Small Business in Azerbaijan of the European Bank for Reconstruction and Development;
  • More than 30 years of experience in developing business plans;
  • We have experience in developing business plans in each area of ​​the business;
  • We are confident in the knowledge and experience of our employees. Each of them is a high-level professional in their field;
  • Ability to create a business based on bank transfers and payments;
  • We highly appreciate the time of our clients and always submit our work on time;

 

 

Steps That are Taken in Developing a Business Plan

This work requires overcoming a long way from a business idea to developing a high-quality business plan, because the business plan contains a set of rather detailed documents describing the prospects for business development over 3-5 years. The business plan, designed in the right way, covers reasonable answers to questions about whether it is worth investing in the project and whether the business will be sufficiently profitable and competitive.

What basic principles should be considered when writing a business plan? This is described in the next section.

9-part Business Plan

Usually, when writing a business plan, changes are required in the standard template, taking into account the specific features inherent in the company. At the same time, it is important to note some principles that apply to all business areas in this business plan.

  1. Primary Information

The primary information of the business plan should be clear, thoughtful and consistent.

Basic information:

  • Purpose of a business plan
  • Legal form of commercial activity
  • Main business activities
  • Market position
  • Key financial indicators

 

  1. General Information about the Enterprise

When preparing a business plan, a detailed description of the company is provided. Here is the information you need to touch upon:

  • Details, structure, separation of duties, number of employees in the enterprise;
  • Information about the founders and owners of the enterprise, interests in fixed capital
  • Fixed assets, existing loan obligations of the enterprise
  • Material and technical base of the enterprise
  • If there have been any significant achievements in the history of the enterprise, they can also be noted in this section
  1. Management

Here you should describe the organizational structure of the company, note the information about the management. Education and experience of the management in this area can be an additional advantage in attracting investment.

  1. Sectoral Studies

In one of the key parts of the business plan, it is necessary to show how successfully the owner of the enterprise summarized information about the market situation, and how he/she used this information to his/her advantage. Sectoral studies include:

  • Description and analysis of industry development trends, its impact on product availability
  • Prospects for industry development
  • Description of export potential

When writing this section, it is necessary to take into account the current economic situation and forecasts for the future, especially if a long-term business plan is being developed.

  1. Competition
  • Almost every new product or service has existing competitors. In this section, note the following:

 

  • Potential clients
  • How saturated is the market with similar offers
  • Identification of the most important competitors of the enterprise, their advantages and disadvantages
  • Determining a company’s competitiveness strategy

A strategy that identifies the strengths and weaknesses of an enterprise, risks and opportunities is one of the easiest and at the same time reliable ways to evaluate a business idea.

  1. Product / Service Features

This section is devoted to the production of a product or service. Here are some of the most important points to consider:

  • Description of the production chain
  • Production technology
  • Raw material properties
  • Supplier features and timely delivery plan

Depending on the type of production, information on patents, production capacities, necessary equipment, etc. should also be added here.

  1. Marketing Plan

The purpose of this section is to characterize the sales markets and the place of the company’s products in them. The marketing plan should include the following information:

  • Information about the uniqueness of a product or service
  • Price and discount policy
  • Consumer behaviour;
  • Planned advertising campaigns

The marketing plan should be designed in such a way as to convince the potential investor that the project will receive the necessary recognition and that the company will attract new customers.

  1. Implementation of the Planned Project

Here, you should describe what will happen to the company every month, what results are expected, and what goals will be achieved within at least 1 year. The business plan should include information on the necessary resources (buildings, equipment, licenses, and labour resources), settlements with suppliers and customers.

  1. Financial Planning

This section should cover estimates of earnings, gains and losses expected. Because depending on these indicators, the viability of a business idea is determined. Moreover, additional costs should be considered here. At the same time, the business plan should contain information about cash flows. To do this, it is advisable to invite a highly qualified accountant when developing a business plan.

Drawing up a high-quality business plan is a job that requires a lot of time, attention and resoluteness.

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Consulting company “SME” was founded by Doctor of Economics and lawyer Namazov Ilgar in 1990.

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Rimma Zeynalova

Chief legal lawyer

Rimma holds a master’s degree in law from the Moscow State Industrial University, which she obtained in 2017. With over 7 years of experience in the legal field, Rimma specializes in corporate law, commercial law, dispute resolution, and legal consultations in tax and labor law. She has extensive experience in client work, negotiations, and representing company interests in court.

Subhan Namazov

Founder and director of the company

Subhan has many years of experience in business management and development. He holds a master’s degree in management from Western University of Azerbaijan.
His specialization includes corporate law, where he helps companies establish a legal foundation for effective management and growth. In tax law, Subhan ensures the optimization of tax strategies and compliance with legislation, facilitating successful business financial planning. In financial and banking law, he provides consulting on legal aspects of financing and banking operations, which strengthens the financial stability of the company’s clients and partners.
With his expert support in these areas, Subhan successfully helps companies achieve their goals by solving complex legal and managerial tasks.

Panfyorova Sofya

Accountant - specialist

She obtained a bachelor’s degree in world economics from the Azerbaijan State University of Economics. Sofya has experience in accounting and specializes in maintaining records, preparing tax reports, analyzing financial data, and drafting budgets. Her professional practice includes client interaction, financial audits, and ensuring compliance with tax laws.

Yelena Ismailova

Lead human resources accountant

She obtained a bachelor’s degree in Finance and Credit from the Azerbaijan State University of Economics in 2006.
Yelena has more than 15 years of experience in accounting and HR administration. She is skilled in payroll accounting, HR documentation preparation, personnel calculations, and ensuring compliance with labor laws. Her specialization includes drafting employment contracts, calculating leave and benefits, maintaining time records, and liaising with regulatory authorities.

Ismail Ismailov

Client manager

Ismail has experience in client management and support. He obtained a bachelor’s degree from the Academy of Public Administration under the President of the Republic of Azerbaijan.
Ismail specializes in identifying and attracting new clients, building long-term relationships with corporate partners, and developing and implementing strategies to improve client experience. His skills include negotiations, contract conclusion, and market data analysis to enhance customer service quality.

Gulustan Isaeva

Junior lawyer

Gulustan graduated with a bachelor’s degree in law from Baku State University in 2024.
Gulustan specializes in preparing legal documents, conducting legal research, organizing meetings, and supporting transactions. She is skilled in business correspondence, client consultations, and assisting the chief legal officer in corporate and commercial law matters.

Nazrin Hajiyeva

Director’s assistant

Nazrin obtained a bachelor’s degree in Accounting and Auditing from the Azerbaijan State University of Economics in 2018.
Nazrin has over 5 years of experience in administrative support. She specializes in coordinating work schedules, organizing meetings and events, handling business correspondence, and preparing reports and documentation. Nazrin possesses excellent project management and interpersonal communication skills, which help her effectively collaborate with employees and clients.

Gunel Bayramzade

Business Partner and Executive Director.

Gunel Bayramzade holds a Bachelor’s degree in English from the Azerbaijan University of Languages. With extensive leadership experience, Gunel Bayramzade serves as the Executive Director and Business Partner at SME. Known for her strategic vision and commitment to improving operational efficiency, Gunel Bayramzade has played a key role in shaping the company’s direction and driving its growth. Her focus on fostering innovation and creating a dynamic work environment has helped SME achieve significant success. Through her keen insight into identifying opportunities and dedication to talent development, Gunel Bayramzade ensures that each team member contributes meaningfully to the company’s success. She strives to maintain a forward-thinking approach while achieving both short-term and long-term goals.

Jafar Alizade

Chief financial director

Jafar received a master’s degree in auditing from the Azerbaijan State University of Economics in 2009. Jafar Alizade has over 15 years of experience in financial management and tax matters. He specializes in budget management, financial analysis, investment planning, and tax expense optimization. Jafar has extensive experience in developing and implementing financial strategies to improve company profitability and sustainable growth, as well as in tax accounting and planning. He is responsible for preparing tax reports, optimizing tax obligations, and interacting with tax authorities. Jafar possesses in-depth knowledge of Azerbaijani law and international tax agreements, allowing him to successfully advise clients on taxation matters.

Vugar Abdullayev

Chief accountant

Vugar Abdullayev has over 14 years of experience in accounting. He possesses deep knowledge in financial accounting, tax planning, auditing, and budgeting. He specializes in preparing financial statements, managing tax risks, controlling cash flows, and ensuring regulatory compliance.

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