TWP Business Healthcheck





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Section One – Building Business Foundations
1. Do you have clear personal and business goals about where you want to be in 12 months, 3 years and 5 years?

NO

YES, but could be clearer

YES
2. Do you have a documented sales strategy?

NO

YES, but could be better

YES
3. Do you have a written marketing plan?

NO

YES, but could be better

YES
4. Do you have a regular and monitored training programme for your staff?

NO

YES, but could be better

YES
5. Do you keep accurate accounting records that can provide current management information?

NO

YES, but could be better

YES
6. Do you have the business and yourself adequately protected financially?

NO

YES, but could be better

YES
7. Do you have your family adequately protected financially?

NO

YES, but could be better

YES
8. Do you have employment contracts in place?

NO

YES, but could be clearer

YES
9. Do you have Directors Service Contracts in place?

NO

YES, but could be clearer

YES
10. Do you have Data Protection Act Registration?

NO

Don’t Know

YES
11. Do you have written disciplinary procedures in place?

NO

Don’t Know

YES
12. Do you have written Terms and conditions of Sale in place?

NO

Don’t Know

YES
13. Do you have an employee handbook?

NO

Don’t Know

YES
14. Do you have a Stakeholder Pension Scheme in place?

NO

Don’t Know

YES
15. Is your company protected against the loss of a key director or individuals?

NO

Don’t Know

YES
16. Is your company structured correctly i.e. Incorporated/Sole Trader/Partnership?

NO

Don’t Know

YES
17. Do you know what you want to achieve personally from running your business?

NO

YES, but could be clearer

YES
     
Section Two – Growing your business
1. How dependent is your business on you?

100% dependant

50% dependant

not dependant at all
2. Is your business cash flow generally…

Poor

Fairly good but could be better

Excellent
3. Do you regularly review and update a business plan ?

NO

YES, but review process could be better

YES
4. Do you think that a plan for growing organically would help your business?

NO

YES
 
5. Do you think that buying in another company would be a good way to grow your business?

NO

YES
 
6. Do you have a pension scheme in place at the moment?

NO

YES
 
7. Do you have stakeholder pension schemes in place for your staff?

NO

YES
 
8. Do you have cross or double options agreements in place for future share partnership/share ownership on the death or disability of a share holder?

NO

Don’t Know

YES
9. If you have agreements in place, do you have the cash to make any required share purchase from a deceased or disabled director?

NO

Don’t Know

YES
10. If you do not have the cash, do you have appropriate insurance protection?

NO

Don’t Know

YES
11. Do you know how to reduce your corporation tax bill?

NO

YES
 
12. Are your pay structures designed to maximise your drawings from your company whilst minimising the tax payable?

NO

Don’t Know

YES
13. Are your business objectives in harmony with your personal objectives?

NO

Don’t Know

YES
14. Do you have a consumer credit licence?

NO

Don’t Know

YES
15. Do you have written agreements relating to premises?

NO

Don’t Know

YES
     
Section Three – Preparing to sell
1. Do you have a sale strategy in place for your business?

NO

YES
 
2. If YES to Question one, what is your planned sale strategy?

Private Sale

Flotation

Pass onto next generation
3. Is your business your pension?

NO

YES
 
4. Do you know what the value of your business is?

NO

YES
 
5. Do you have schemes in place that protect and lock in your key employees?

NO

YES
 
6. Do you have secure agreements in place with suppliers and customers?

NO

YES, but could be better

YES
7. Do you have partnership agreements or share agreements in place with your co-owners?

NO

YES
 
8. When do you plan to retire?

Within 2 years

5-10 years

10 years plus
9. Do you have an agreed company valuation for shares/partnership share?

NO

Don’t Know

YES
10. Are you investing for your own future outside of your company?

NO

YES