15 Key Points To Include When You Come to Write a Business Plan
If you’re starting a business then you will probably need to write a business plan. But what is a business plan and what should it cover? Here’s some good advice on how to write a great business plan:
What is a business plan?
Basically, a business plan is a route map for your business. It outlines where you are now, where you want to get to, and how you are going to do it.
You don’t always have to have a business plan. But you might be expected to have one if you’re borrowing money from a bank or applying for a grant. It’s also useful to show potential business partners that you’re serious and professional about what you’re doing. You might even find it helpful to have one just for your own guidance.
What should your business plan include?
Now this is important: There is no fixed, right-or-wrong format for a business plan. It can include whatever you want it to include. However, here are some of the main things it should cover:
It’s always better to underestimate your turnover and profits than to overestimate them!
Presenting your business plan
There is no minimum or maximum length for a business plan. Just write whatever you think is necessary to outline your plans properly. Try to keep everything fairly concise – business plans are typically between five and 20 pages or thereabouts.
If you’re sending your business plan to another party – such as your bank – ensure it is neatly presented and printed on high grade paper using a good quality printer. Including charts, tables, graphs and diagrams is a good way of getting over lots of information in a concise format and also helps your business plan look more organised and professional.
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