The project report for a startup/new business venture is the road map for the business enterprise to be successful.
It does discusses whether the business requires finance or not, it’s challenging risk, numerous problems en route. Hence, it becomes vital for all new ventures to prepare a project report to acquaint themselves regarding the forewarning issues.
Format for New Business Project Report
The below are the major pointers which needs to be included while preparing a project report.
- Business background
- Profile of the customers
- Objectives both long-term as well as short-term
- To undertake viability assessment of the proposed new business ideas with regards to technical feasibility, marketability, financing, and regulatory regulations
- Must be able to prepare relevant business plan
- Should recognize and document fundamental startup issues
- Brief discussion on the chief influencers, type of market and players, etc
- State reasons for starting business in a particular market
- Market description
- Target clients
- Patterns of Market consumption
- Advantages of services offered by the new business
- Past as well as present supplying/operating location
- Production limitations as well as prospects
- Details about Exports as well as imports (if applicable)
- Pricing structure
- Demand flexibility
- Client behaviors, intentions, purposes, approaches, inclinations, impetus, and needs
- Support network as marketing rules formulated by the government
- Technical as well as government limitation imposed on the product promotion
- Investment expenditure and value of the entire projects
- Investment methods
- Anticipated productivity
- Money flows of the project report
- Investment value evaluation in context of different points of merit
- Estimated financial ranking
- Business models
- Production of goods as well as services
- Financial plan
- Management structure
- Business structure
Perform SWOT Analysis
SWOT Analysis is a strategic planning technique that is used to evaluate the strengths, weaknesses, opportunities, and threats of a project or in a business entity. A detailed SWOT analysis should be performed.
- Assessment of Break Even
- Synopsis of profit and loss
- Summary of Fund Flow
The below are some of the best practices to design an effective business project report for new business:-
While creating a new business project report, it is essential to keep in mind the target market. For example, in case, if you are making a report on debt financing, the focus should be on the assurance that debt can be reimbursed by the company and not on the high revenues that the firm has accrued.
The first approach towards preparing a business report must be in developing as well as assisting a powerful business strategy. The report should describe the economic trends, players as well as clients. It must also explain – how to perform the chosen approach, the marketing of its products as well as functional competence.
Should have catalog realistic plans for unanticipated expenses, price, overturns and issues neglected. Hence, try to predict the future trends realistically to make a powerful project report.
Structuring your Project plan
As there are numerous elements to a project plan and few larger plans which can be stretch over a hundred pages, It does make structuring your document all the more crucial and significant. A consistent formal style with a logical order along with clear heading would allow readers to navigate quickly through the document and get them glued to the details which are significant to them.
Another major factor to consider while writing project report is data tabulation. Presenting data lists or tables can help in understanding the report. Also, we find the listing or data tabulation does make the report look professional and neat. Hence, accompany essential lists or tables in your report when needed. Make sure, you use the neutral colors to make the table and keep the list as well as table look neat and crisp.
Writing Ending Remarks
Present the logical conclusions in the project report. Incase discussions are not been inclusive in the main body, include it in the conclusion else keep this section small.
Putting Your Recommendations
As you have worked on the report, nobody else but you would have a better understanding of the topic than you. There might be few solutions or actions that you would think would be effective in dealing with the problem, investigated in the report. Include those solutions in the section. List them in bullets and number list for easier comprehension.
Even though very few people read the Appendix, the information in this section does offer support to the arguments used in the report. It is the Appendix where the author includes all sources as well as detail research information.
Even though, it is not about creative writing; good writing skills are essential in business information report. It is advisable to keep the language simple as well as lucid in a business report, especially in the summary and recommendations as there are sections most commonly read by senior level managers. However, few technical jargons can be used in the main body, as this is the section that is mostly read by the experts.
In the business world, time is money, following a standard business report format is what senior level managers, as well as busy businessmen, look for, as it does reflect what they value the most, that is the utilization of time effectively.