Many entrepreneurs, or those who dream of starting their own enterprise need to present a business plan in order to apply for start up funding. With the resources available on the Internet, finding a template and/or small business plan sample has never been easier.
Free Business Plan Templates
The US Small Business Administration is a good starting point for finding business plan templates. An SBA business plan sample is found at this site and it is also an excellent resource when it comes to providing other information such how to get started, how to manage the business, legal concerns and start up loans.
Downloadable templates can also be found at the Microsoft site, with a step-by-step guide on writing a comprehensive plan.
How to Write a Business Plan
The purpose of a business plan is to create an outline that evaluates all aspects of the economic viability of the business venture, including descriptions and analyses of business prospects. A template or sample gives a good idea of how to go about writing a plan, but plans vary a lot. Be sure to include:
- Vision statement
- Business profile
- Economic assessment
Ensure that the business plan includes the following factors:
- A sound business concept
- Market research
- Stable industry with potential for healthy growth
- Capable management
- Financial control
- Consistent business focus
- Ability to anticipate and adapt to change
- Plans for online business
Make the business plan as compelling as possible, customizing it to the unique business concerned. Remember that potential investors will base their decision on the likelihood of the loan being repaid or getting a good return on their investment if they have a stake in the business.
Business Start up Loans
After all the work of putting together a good plan is done, the small business owner will be ready to approach lenders for funding. Start up loans can be applied for in a variety of ways. Try finding a financial partner among family members, friends or work colleagues or private investors.
Other sources include finding lenders willing to approve loans based on personal credit. Depending on the type of business, some lenders are prepared to offer cash advances where they will recoup their money through credit card sales.
More Articles on Small Business Information:
Ever wondered what budgeting software packages are available? How to Find Small Business Budgeting Software answers this question.
The article How to get Business Loans with Bad Credit examines how to go about getting a small business loan, even with a less-than-perfect credit history.
Small Business Insurance looks at the different insurance options available.
Source:
myownbusiness.org, information retrieved 4 November, 2009
Fleur Hupston - Fleur Hupston is a professional freelance writer based in Botswana, Southern Africa. From this unique perspective, she writes travel ...
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