A good business plan requires not only an assessment of what has changed or is changing, but an examination of the context in which the pharmacy is operating. 

• What is happening in the NHS? The five-year agreement in England has flat funding nationally, but there may be opportunities within PCNs. In Scotland, investment in independent prescribing in community pharmacy could open up new and different service opportunities (and income streams), but may require a reshaping of your team and processes

• What is happening to your customers, their shopping habits, residential development, demographics?

• What are the competition doing? This includes supermarkets for non-health related sales, and GP surgeries for the provision of some services.

A PEST analysis might be useful tool for thinking about how change might affect your business. This considers the external factors (political, economic, sociological and technological) that can influence a business. For more information see mindtools.com.