A well-written business plan is an essential tool for any business. Not only can it help you attract funding, it can also help you test your business idea.
What do I need to include in a business plan?
Most business plans cover the next 12-36 months and include the following:
- Outline the aims and goals for the business and how the business owner plans to achieve those goals.
- The background of the business
- Introduce the business's management team.
- Set of sound financial projections including:
- profit and loss forecasts,
- a breakdown of how much money will be required to set up and run the business,
- sales forecasts,
- pricing strategy.
- Overview of the market the business operates within, the customers the business plans to target and what marketing methods will be used.
- Assessment of comparative strengths, weaknesses, opportunities and threats posed by rivals within that market.
- The last thing to be written is usually the executive summary - which should appear at the front of the business plan. It rounds up all the detailed information contained in the main body of the business plan.
The Propel Business Insights Dashboard seamlessly integrates with your business bank account and accounting software to bring your financial data into one place.
A business plan does not need to be a lengthy document but should provide the key elements.
Business plan templates
These simple and professional business plan templates from Best Templates can help you set out your business idea, plan the road map for your business formation and help you attract funding.
Available in several file formats and easily customizable, these files are a great addition to your template library.
Download the business plan templates from Best Templates (charge applicable)
- Start up business plan
- Simple business plan
- One-page business plan
- Sample business plan
- Business plan outline