A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals. Writing a business plan is one of the most crucial elements of starting a business. However, it does not have to be the most frustrating.
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.
We often ask business owners to include a business plan when they apply for bank finance. Consider that, in the same way as you would test-drive a vehicle before purchasing it, we need information about your company before we partner with you.
Be concise. It’s really important that potential investors can understand what your business is all about from a quick glance at your plan. Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout.
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