What is a business plan?
A business plan is a formal, written document that provides information about your company and its industry, describes a marketing plan, details an operations plan, and projects the financial needs of the business. It details where the company is going and what the company intends to do. It provides direction for you and communicates to others your business opportunity. Your banker will use the business plan to learn more about your business and to determine if your business qualifies for a loan. A typical business plan is a typed document that contains a cover page, table of contents, 10-15 pages of narrative and exhibits as necessary. Three exhibits are mandatory. They include projections of three years each for business income, cash flow and balance sheet. Other exhibits, which are optional, may include pictures, contracts, supplier estimates, equipment needs, inventory requirements, or whatever else is important to tell your story. For free information and assistance in preparing y
A. A business plan is a written document that outlines the specifics of your enterprise. This includes information on the mission of your business, its products/services, the market that it serves, the competition, and the goals and obstacles that your business may face in the future. Click here to access the ACCION USA Business Plan Template.
A business plan precisely defines your business, identifies your goals and serves as your firm’s resume. It describes the products and services you will sell, the customers to whom you will sell them, the production, management and marketing activities needed to produce your offerings, and the projected profit or loss that will result from your efforts.
A business plan is a comprehensive document setting out the approach and actions you will take during the first one to three years. It will include a financial evaluation of your work to determine whether or not the new business will be profitable and cash positive. The business plan will also be of great importance in demonstrating to would be investors or fund providers that you do have a cohesive and achievable plan for success.
A business plan is a document used to detail plans for a start-up or existing business. This document is used to describe business goals and strategies, as well as provide a blueprint of financing and marketing plans. Essentially, it provides detailed information about where a company is going and how it will get there. Many experts consider such a plan critical to the success of a business. Often, a business plan is required when seeking a business loan or investment capital. Investors and loan officials need to know what a business owner hopes to accomplish and the steps he or she plans to take to meet goals. Business plans help those in the position to loan money determine whether or not a business is likely to succeed, based on information provided by the owner or owners. A company backed by a well-thought-out business plan is a better loan or investment risk than one with a thrown together or incomplete plan. A business plan is not just useful for obtaining financing. A carefully
