By on February 27 2018 06:32:28
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.
Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.
Ownership and Management Plan. This section describes the legal structure, ownership, and (if applicable) the management, and staffing requirements of your business.
Your business plan should provide certain details about your idea, including your intended market and the industry in general. Using a business plan template will ensure that you don’t overlook any important information.