I am often asked the same two questions. Do I need a business plan? What should I include in my business plan? I am going to answer these questions when writing this article.
Do I require a business plan?
For most businesses the answer to this question would be yes. For the majority of new businesses and ones which require investment by way of a loan or a business partner, a business plan is a must. Any potential investor will want to see for example, your future growth projections before they commit to invest.
This is the type of business which does not require a business plan:
A business which is happy to stay as it is and which has no plans to expand.
A business which never has a need to take out a loan.
A business which is a one man band and is self-sufficient, without the need of any outside help.
This type of business is rare. Most businesses therefore will require a business plan.
It is one thing being aware of your need to formulate a business plan, the problem is most people have no idea of how to go about creating one.
The business plan will aim to show its readers all about your aims for your business...
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