Business Development Idea: Financial Consultancy Business Plan

This report presents a business development idea focusing on establishing a financial consultancy service. It outlines strategic plans, emphasizing the importance of market analysis, internal and external factors, and the development of core competencies. The proposed business, 'Financial Consultancy Service Association Private Limited,' aims to provide financial advice, investment strategies, and capital budgeting decisions for small businesses in Australia. The report highlights the need for effective marketing strategies, including the use of cyber computing enterprise resource planning, to build brand image and increase market share. It also discusses the structured program for incorporating the business, including investment requirements and creating core competency by hiring financial experts and providing unique financial services. The report concludes by emphasizing the importance of strategic planning and expert financial advice for the success of the consultancy.

RUNNING HEAD: Business development idea 1
Student Name-
Title- Business development idea
University Name-

Business development idea 2
Table of Contents
Structured program of incorporating Fast fit city business..........................................................................6
Creating core competency in providing consultation on financial services..............................................6
References...................................................................................................................................................8

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Introduction
This report reflects the business idea and profitable business strategic plans which could
be undertaken by business entrepreneur with a view run business effectively. There are several
business options and strategic plans which will help business entrepreneur to set up new business
in Australia. However, there are several internal and external factors which will be faced by
business entrepreneur while introducing new business plan in Australia. In this report, financial
consultancy business has been taken into consideration as a developed business idea.

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Developed business plan
With the increasing ramification of economic changes and complexity of business
factors, various business entrepreneurs are inclined towards using strategic planning process
before starting up new business. It is evaluated that if business entrepreneur wants to start up
new financial consultancy service firm then firstly, all the associated business entrepreneur on
joint basis needs to evaluate all the internal and external factors such as number of startup
business, small business enterprises productivity and financial measurement of market (market
share, existing rivals offering and strategic plans of organizations) (Bruton, et al. 2015). The
proposed financial consultancy service firm will be having financial consultancy service
association private limited. This financial consultancy service association private limited will be
private company with five members. It is observed that there are several organizations that are
facing problems such as high financial leverage, unstructured capital structure, financial
management problems and selecting particular project for their betterment of organization.
Therefore, the developed value chain activities of financial consultancy service association
private limited will be indulged in providing best possible financial advice and strategic plans
which could be used by other companies to create value in their investment decisions (Schaper,
et al. 2014). In addition to this, services provided by financial consultancy service association
private limited will include investment by investors in mutual funds, capital market and grasping
fixed deposits. Furthermore, on corporate level, company will also help other small companies to
take effective capital budgeting decisions (Solayman, 2013). This process will help small
organizations to evaluate the best possible investment project options that will help them to
create value on their investment. It is considered that financial consultancy service association
private limited has to implement systematic strategic plan to evaluate the all the internal and

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external factors of financial market. However, the main problem which would be faced by
financial consultancy service association private limited in providing consultancy services to
clients would be related to marketing of its company brand image and increasing overall market
share (Henreksonx & Sanandaji, 2014). It is considered that clients in Australia are more inclined
towards established financial advisors. Therefore, financial consultancy service association
private limited needs to establish effective marketing strategies to run its business effectively in
Australian market. It could be done by implementing cyber computing enterprises resources
planning. It could be inferred that after adoption of this level of cyber computing enterprises
resources planning by financial consultancy service association private limited will help
organizations to collect data through online monkey survey (Najmaei & Sadeghinejad, 2017).
This collected data could be used by company to catch up with new clients or fixing meeting in
formal ways. In addition to this, cyber computing enterprises resources planning will also reduce
the overall complexity and cumbersome communication process in effective manner. This level
of technical adoption and strategic planning by the board of directors of company will surely
result to providing unique level of financial services and advice for clients. However, company
could by injecting more capital in its private funds can grant persons loans or corporate loans to
its trust worthy clients. Nonetheless, this loan providing services could be done only when
company alters its MOA and AOA by adding financial services in its ancillary object (Reimers,
2013).

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Structured program of incorporating Fast fit city business
Promoters of the company will have to invest AUD$ 100K to start up new business. This
cost will be used to install cyber computing enterprises resources planning and structured
program of financial consultancy service association private limited (AUDRETSCH, 2014). This
company would invest AUD$ 50 K in installation of cyber computing enterprises resources
planning and rest of the amount will be undertaken for other structured value chain activities of
financial consultancy service association private limited. In addition to this, if after
implementing business functioning of providing financial consultancy services in market,
financial consultancy service association private limited observe need to enter into strategic
alliance then it will inject more money to pay consideration to other target organization for the
betterment of established business (Brigham, & Ehrhardt, 2013).
Creating core competency in providing consultation on financial services
It is considered that providing financial consultancy services to organization in the
market will not end the vision of company. However, company needs to undertake various
activities such as hiring financial advisors, collecting data from the market, advertisement and
conducting conference for financial services awareness. Furthermore, company needs to
establish its brand image in the market with a view to create core competency in providing
financial services (Jeston & Nelis, 2014). It is observed that if company could provide unique
financial services such as securitization, reducing cost of capital or capital budgeting decisions
then it will not only increase the overall turnover of company but also result to create core
competency in financial consultancy services in market. Financial consultancy service
association private limited needs to hire professional financial experts who have wide level of

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international financial knowledge and well versed with the financial analysis tools. These experts
will give consultation to small organizations to reduce their overall cost of capital, mitigating
problems associated with financial leverage, maintaining the unstructured capital structure,
financial management problems and selecting particular project for their betterment of
organization (AUDRETSCH, 2014).
Now in the end, it could be inferred that proper level of strategic planning and hiring of
financial experts are the key pillar for the business success of financial consultancy service
association private limited. There are several organizations in the Australia that have been facing
high cost of capital and financial leverage problem due to less effective financial management. If
company wants to tap needy clients then it should implement effective online marketing
strategies through its online cyber computing enterprise resource planning.

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References
AUDRETSCH, D. B. (2014). Small Business and Entrepreneurship: The Emergence of a Scholarly
Field. 20 years of Entrepreneurship Research, 49.
Brigham, E. F., & Ehrhardt, M. C. (2013). Financial management: Theory & practice. Cengage
Learning.
Bruton, G., Khavul, S., Siegel, D., & Wright, M. (2015). New financial alternatives in seeding
entrepreneurship: Microfinance, crowdfunding, and peer‐to‐peer innovations. Entrepreneurship
Theory and Practice, 39(1), 9-26.
Henrekson, M., & Sanandaji, T. (2014). Small business activity does not measure
entrepreneurship. Proceedings of the National Academy of Sciences, 111(5), 1760-1765.
Jeston, J., & Nelis, J. (2014). Business process management. Routledge.
Najmaei, A. & Sadeghinejad, Z., (2017). Designing Business Models for Creating and Capturing Shared
Value: An Activity-System Perspective. Entrepreneurship: Concepts, Methodologies, Tools, and
Applications: Concepts, Methodologies, Tools, and Applications, p.335.
Reimers, J. L. (2013). Financial Accounting: Pearson New International Edition: A Business Process
Approach. Pearson Higher Ed.
Schaper, M. T., Volery, T., Weber, P. C., & Gibson, B. (2014). Entrepreneurship and small business.
Solayman, M. M. (2013). STRATEGIC PERFORMANCE MEASUREMENT GUIDELINES AND
FRAMEWORK TO MERGE BALANCED SCORECARDS AND BUSINESS

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INTELLIGENCE TECHNIQUES. ASIAN JOURNAL OF COMPUTER SCIENCE &
INFORMATION TECHNOLOGY, 3(10).

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