Sage UK offers free business planning tool to start-ups
Offer hoped to boost small firms’ loan success rate
Start-ups and small businesses have been offered free access to business planning software to boost their success in applying for bank loans.
Sage UK is providing Sage Planning for Business as an uncharged add-on to its flagship financial software for a limited time, after research revealed that nearly 42% of small firms do not have a business plan.
According to a Sage study of more than 1,000 UK small businesses last month, only one in 10 business owners submitted business plans when applying for finance in the last 12 months.
However, around 20% of those that applied for finance in the last year had their applications rejected – suggesting that insufficient business planning may be a barrier to growth.
Robin Moore, product manager for Sage’s Small Business Division, said: “Access to finance remains one of the greatest challenges facing small businesses today. However, there are a number of vital things owners can do to help themselves, such as ensuring they have a fully robust and up-to-date business plan in place.
“By incorporating Planning for Business into Sage Instant Accounts 2012, we are aiming to help businesses more accurately plan for the future and achieve their aspirations for growth.”