Planning your business is a necessary process to undertake before, during and after you start. Writing the plan down helps to clarify your thinking and identifies where you intend to get to and how you intend to get there. You will also be able to review your progress against your forecast and make any necessary adjustments to get you back on track.
A business plan is a living document that will help you monitor your performance and stay on track and will therefore need updating and changing as your business grows. Having a clearly presented document will also make it easier for any specialist you may use to provide support. In the case of raising funds from a bank or investor a business plan will be a necessary requirement.
Write a business plan
Download free business plan templates and find help and advice on how to write your business plan.
Business plan templates
Business plan examples
Download free example business plans on the Bplans website for a variety of different business models.
How to write a business plan
Get detailed information about how to write a business plan on the Start Up Donut website.
A useful guide from Open Colleges in Australia on how to write a business plan. There are some Australian references which are not applicable here.
Why you need a business plan
A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.
A business plan helps you to:
- clarify your business idea
- spot potential problems
- set out your goals
- measure your progress
You’ll need a business plan if you want to secure investment or a loan from a bank.
It can also help to convince customers, suppliers and potential employees to support you.