Business Plan Template

Description
What is a business plan?

Business plans, or sometimes called business proposals, are written proposals that describe the core business objectives and how you plan to achieve in a given time period.

The business serves to support you, and others, understand how you plan to generate income and make your business sustainable. The plan includes information about your goals, strategies, marketing, sales plans and financial forecasts.

The template is downloadable below. However, if you have doubts on how to complete the template, have a look at the guide attached in the tool package.

Why is the business plan important?

There are multiple reasons for why it is worth it to design your business plan- even if you’re not aiming at applying for a start up loan.

Here are 7 reasons to have a business plan:
1) Structures, organizes, and clarifies your thoughts and ideas.
2) Supports goal setting while spotting any potential problems in achieving them.
3) Helps in giving a clear strategy to follow when things get blurry.
4) Necessary to secure external finance for your business. (Also required if applying for a Startup loan)
5) Allows you to keep track of your progress as time passes.
6) Ensures your team is working on the same objectives and visions.
7) Supports planning for the future.

For explanations and guidance on the sections of the template, have a look through the online methodology that clearly sets them out. Additionally, you will find some tips addressing how to write business plans on the last sections of the methodology.

- The Start up Loans Team