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You should include a profit and loss account, a cash flow forecast and Balance Sheet and even a break-even analysis.
Instead think of a business plan as a useful summary of your business, that sells your idea and ambitions to a potential customer, supplier or even staff.
Remember that anyone picking up your business plan should be able to understand exactly what your business does and where you want it to go in the next 12 months or few years.
These free business plan templates can help you quickly write a business plan.
You can download the templates to your computer as they are Adobe PDF files.
As your market is made up of customers describe their characteristics.
You also need detailed information about your competitors and why you'll be able to take market share from them.Make sure you clearly write down all your earnings and outgoings in your business plan.Potential investors and banks will want a realistic picture of your books.Our specialist advice can help you build your business’s profile and our members are already benefiting from exclusive discounts to access the latest business data lists.Remember there are a number of legal requirements if you set-up or run your own business, especially if you employ staff.Describe your key products and services, pricing and margins.Detail your marketing activities including market research, market trends and size, external market economics, barriers to entry.We have three templates you can use to do your business plan kindly offered by SCORE and Bank of Scotland.There are two for preparing the narrative of your plan (One for a startup business and the other for an existing business) and a cash flow template.The first step in planning your business venture, clarifying your ideas, aims and objectives is to write a business plan.Your plan is an essential document to ensure your ideas are feasible and is critical for bank New suppliers and larger customers may require this document and it's also useful to track progress against your original targets.