The FMB Cloud-based Tools
The FMB Business Planning and Financial Forecasting tools have been developed to address three main issues;
1. Business plans are expensive - business plans are expensive to produce if produced professionally and often fall short of satisfactory quality thresholds if they are not produced by experts.
2. Lack of standard formats - there is no standard format of business plan which is recognised by any industry, resulting in both production and evaluation being cumbersome and inconsistent.
3. Lack of centralised market place - access to funding has been further hampered as there is no centralised ‘meeting place’ for entrepreneurs and potential funders.
It is widely accepted that many entrepreneurs do not place sufficient emphasis on the quality of their business plans – only to be rejected each time they attempt to raise funds. This also frustrates investors/funders and wastes huge proportions of time for both parties
– this phenomenon is known as “The Quality Gap”.
It is also widely accepted that most entrepreneurs suffer from what is know as “The Equity Gap” which is in fact a false phenomenon as it is too often assumed that there is little appetite from investors to engage with risky start-up ventures. In fact this simply is not the case. Investors are constantly looking for opportunities to evaluate and fund - but the fact is that most of these opportunities will fall at the first hurdle if the supporting information, documentation (and the quality and experience of the management team) are not of sufficient standard.
FMB sets about helping to bridge the gap between entrepreneurs and investors/funders by significantly improving and standardising the process.
The FMB Tools are offered in three versions, as follows: Micro
– includes a concise Business Plan and 3 Year financial Forecast The subscription cost for the Micro Edition is just £10pmSME
– includes full Business Plan and 5 Year Financial Forecast The subscription cost for the SME Edition is just £18pmInvestor
– includes full Business Plan, Investor Ready Financial Forecast, Financial Assumptions and Management Presentation Slides The subscription cost for the Investor Edition is just £25pm
If you sign up via one of our FMB Partners or Affiliates, they may offer you a discount voucher to use our Tools either via this website, or on their own website. This could reduce the above subscription prices further. Contact our Partners or Affiliates for their latest offers.
Whilst originally developed for equity financing through our relationship with the BVCA, the 3 versions of the tools now have wider applications for;
- bank financing
- existing business growth plans
- equity fundraising
- applying for a place in an incubation unit
- opening a business bank account
- business growth programme submissions
- grant funding
- annual divisional planning for larger businesses
- project viability evaluations
One of the key features of the VH tools is its ability to help the end-user by providing step-by-step guidance throughout the business planning process. This has two key benefits; firstly it helps the end-user to test the assumptions as the plan develops and secondly, it functions as an educational tool, improving the quality of thinking that goes into the business model. In this respect the tools can be used to further educate the end-user in sound basic business principles including routes to market, financial planning, innovation, critical success factors and management techniques.
The tools are also of equal value to operating companies and organisations that need to evaluate business propositions in order to justify corresponding investment. In this instance, the tools will guide the user step-by-step through building a solid business case, together with creation of a 5 year financial forecast. Real-time reporting is incorporated, including the calculation of return on investment. There are plans to add a simple funds application feature to facilitate a centralised portal which will handle such internal requests for investment funding. Such requests would be typically made to the FD/CFO of the organisation. The suite of tools represents a distillation of industry best practice and will set new standards for enterprise in the UK.
The Government are advocating a migration towards privately owned, web-based enterprise support service providers. Venture Hothouse has been working with the Department of Business, Innovation and Skills (BIS) to further understand the current issues and policies around investment into UK business.
As such, Venture Hothouse and Fund My Business have been identified as providers of high quality business planning and financial forecasting tools which can improve the investment process across the UK.