It’s a vital tool when discussing your business with your bank manager or potential investors.
It shows that you’ve taken a realistic look at your prospects and you understand the environment your business operates in.
Our bank business plans follow SBA’s strict guidelines that include: Within each category, there are several subcategories that help strengthen the main category’s message.
The final product is a well written and concise document that you can trust to your SBA agent.
When you write a business plan it forces you to evaluate the details of your own business proposal and identify what you need to do to make it happen.
It will quickly show up any flaws or potential stumbling blocks, allowing you to make your mistakes on paper rather than in your actual business.You’ll need to know what sort of cashflow you can expect – how much cash will be coming in and going out, who will be paying it, who needs to be paid and when?Money being paid into your business could come from sales or investment – that includes capital you pay in yourself.In a few sentences, state why your business exists.Summarise what you want your business to achieve apart from generating a profit.Be sure to include a two-year profit forecast in your plan.Separate your cashflow and profit into monthly figures, and show the main areas where you’re receiving income and spending money.When you’re starting up in business a good business plan can help you succeed.It acts as a route map to follow, showing you where you are now and where you want to be in the future, and helping you navigate your way there.Money flowing out could be for stock, equipment, salaries or tax.Profit is the money left in your business after you’ve paid expenses, costs and taxes.