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:
- What information to include.
- How to present your financial forecasts.
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