A good business plan makes sure you are clear about what customers want, what the competition is offering and how you can make your business stand out. It identifies what your business needs – from equipment and premises to people and financial resources. The plan looks at how you expect the business to perform, the risks you face and the financial returns you anticipate.
Whether you are starting a new business or looking to grow, preparing a business plan helps you think through important issues and decide your approach. It helps you identify some potential pitfalls before you make them and it can help you set the direction for your business and communicate your plans with banks, investors, employees and suppliers.
Our business plan tool offers a ready-made template for you to complete, covering some of the key areas you need.