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Potential business partners need to know how their investment will be used, and ultimately, what it will achieve for the business. In this sense, your business plan is like your ambassador - showing how the various elements of your company are integrated into a vibrant whole

Do I Need a Simple or Detailed Plan? A corporate business plan for a large organization can be hundreds of pages long, but for a small business it is best to keep the plan as short and concise as possible, especially if you intend to submit it to bankers or investors — 25-30 pages should be sufficient unless you need to include photos of products, equipment, logos, business premises or site plans, etc. Potential money-lenders or investors will be looking for solid research and analysis in your plan rather than long, wordy descriptions.

The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.

While it’s not essential to have a business plan, you may find it easier to get funding if you have one that is well thought out and contains all of the necessary detail about your prospective business.

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