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Writing a business plan is a vital first step when starting a business, in order to set out your proposition, your market, customers and competitors.The business planning process will give you a feel for the various elements that will determine your success, from cash flow, to sales forecasting to your personnel structure.Rebecca Mc Neil, MD for Business Lending and Enterprise at Barclays, says: “A strong plan can help applications for finance from a business loan to alternative forms of finance and investment.” Many people assume that a business plan will be a hefty document containing lots of facts and figures, but it doesn’t have to be.
Business plans are also important tools to attract funding from investors and are often compulsory if a business seeks funding.
Please always remember that our business plan templates can only give you a rough guidance of what you need to do.
Writing a business plan takes a lot of research, market knowledge, time and effort.
By using one of our business plan templates we help you with the general structure of a business plan.
It’s really important that potential investors can understand what your business is all about from a quick glance at your plan.
Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout.Keir is Sage’s dedicated expert in the small business and accountant fields.With over two decades of experience as a journalist and small business owner, he cares passionately about the issues facing businesses worldwide.We can help you answer this during our Enterprise programme, which provides you with the skills, tools and confidence you need to become your own boss.But, there's no reason why you can't start crafting your business plan today.A good business plan will let you structure your finances efficiently, show potential investors the strength of your business, and focus your efforts on developing your business.A business plan isn’t written once; it’s a living document that you return to periodically to help you spot potential pitfalls before they happen.That would be: While it’s valuable to get your ideas clarified and to test your thinking before you launch your business, it’s even better if it’s embedded into your day-to-day business too.As Jennifer says: “Business planning is a continuous process – from the initial start up any business to stage two of developing and growth of existing sales and developing new income streams.We can help get you started with this business plan template, which could be useful to you if: Using a business plan template is the best and quickest way to collate all the information you need to start a business.The process of completing a business plan template can help ensure the viability of your business proposition from the off; Does it work? Is there an appetite for the product or service you are proposing?