The person who intends to conduct an Offer of financial instruments through an authorized portal for the collection of online capital must also include a business plan among the documentation related to the Offer conducted by the SME, drawn up with criteria as consistent as possible with the formats and commonly accepted principles in order to provide all the information necessary for a rational investment.

The portal operator publishes the business plan of the Offeror produced by the latter, pursuant to CONSOB Regulation 18592/13.

A business plan generally contains:

  • Brief description of the investment project and explanation of the type of company that is pursuing the entrepreneurial initiative in the pursuit of its business purpose.
  • Presentation of the resume of the entrepreneur and management (previous experience and role in the initiative).
  • Analysis of the potential and reference market, characteristics of the competition and identification of strengths and weaknesses, competitive positioning, market shares.
  • Sales targets, distribution channels and sales organization, possibly linked to a marketing and advertising communication plan related to the development of the brand and the product/service. Main risks related to the activity related to the business project.
  • Description of the technical feasibility of the project in relation to the production process, administrative and environmental authorizations, the need for investments in production facilities, technological infrastructures or commercial channels, the availability of labor and infrastructural services such as logistics and transport, energy and telecommunications.
  • Economic and financial feasibility plan with an indication of the overall financial requirement (for technical and intangible investments, and to finance the company's goodwill and working capital) and the related mix of hedging instruments.
  • Information on the expected return on investment and on the risk factors that may affect it negatively, starting from realistic and prudent assumptions.
  • Indication of the investors already involved in supporting the project, and a well-quantified proposal for new investors about the total required contribution of new financial resources. Chronological development program of the main phases of the project and related activities, with details of the resources involved.
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