What To Write In A Business Plan
This should include: When describing how you think the market will grow, try to reference an independent source, for example regulatory bodies or recognised industry experts.
This section should also explain how your business will get past any problems that could prevent you from reaching your market, like supplier problems.
Potential funders will use this section to see if your business can sell products or services in a form customers will like, as this could make your business successful.
You'll need to give details of who is involved in managing your business. For example, you could be managing a business on your own, or it could have an entire management team.
If your business is a limited company, you'll also need to include details of your registered offices and company number.
An executive summary should give an overview of each section of your business plan.
You should try to show how your business's own product or service is different and why customers will choose yours.
They'll also want to see if your business is using the best practices for the future.In particular, funders will be interested in finding out if you or the other people managing your business have the correct skills and experience to deliver your business plan.You should give details of anyone involved in managing your business, including their: If your business has a management team you should also give details of the team structure and any lines of reporting.This section of your business plan should include details of your business's trading address.You should also include any professional advisors your business uses, for example an accountant or solicitor.For example if you've made the assumption your turnover will grow, you could say if this is because of market growth or price rises.You can use information from other parts of your business plan to support your assumptions.This will help potential funders to see if your new product or service either complements or adds diversity to your existing business.Giving details of all your products or services will help potential funders to see these opportunities and might improve your chance of getting funding.For example, a bank loan of £5,000 or grant funding of £2,500.You can find more information on writing business plans on the Business Gateway website.