Writing a business plan

Many potential start-up businesses are daunted by the prospect of compiling a business plan. But it is not an intimidating process – and a good business plan focuses the mind as well as helping to secure finance and support.

The business plan will clarify your main business idea and define your long-term objectives. It provides a blueprint for running the business and a series of benchmarks to check your progress against. It is also vital for convincing your bank – and possibly key customers and suppliers – to support you.

This briefing explains:

1. What information to include.
2. How to present your financial forecasts.