For more in-depth advice, read our guidelines on how to write a Business Plan.
Our Loan Assessment team will want to see that the Start Up Loan will support your overall business objectives. Knowing the answers will help you promote your business much more effectively: How old are they? Helps you set out your goals and spot any potential problems in achieving these goals.
Do they already buy the product or service? What are their lifestyles like?
Your target customers, market and competition: A summary of key insights that demonstrate you have a strong understanding of your customers and how to identify themyour market and how to position yourself within it and your competitors and how to differentiate yourself from them on factors like price, quality, brand etc.
Your plan should include: What your business will do The products or services it will provide How customers will access your products or services eg in a shop, online or by phone Your approach to pricing Your long and short-term objectives — including a series of benchmarks if possible that you can check your progress against Know your customers Make sure you know as much as possible about who will be buying from you.
Consider any risks you face and how you will overcome them.
As with most things in life, first impressions count. What should I pay them and does it match with the pay offered for similar roles in the area?
Find out how to protect it The Intellectual Property IP rights of your business determine the value of your idea, so a copyright, patent or trademark is essential.
Nothing needs to be set in stone, however; business plans are dynamic documents — meaning that you should adjust your plan as your business develops. Your business and key objectives: A brief description of your business and its core products or services.
Select Page Business Plan template A Business Plan is like a blue print for your business - it details all your goals and how you plan to achieve them.