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Business Plan

A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organisation and the team attempting to reach those goals.

You need to describe the product or service and its advantages, the main customers as well as your main competitors. Describe how will you run the business; in terms of management, finance, production and sales.

You need to know how much you expect to turnover in your first year and how much it will cost to set up and run.

The sections of the business plan include:
 Executive summary
 The Product
 Customers and Competitors
 Sales and Marketing
 Financial requirements and Forecasts

Click to see our business plan template.

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