Writing your business plan

Writing your business plan          

If you're going to need external funding to start your business in addition to your personal finance you'll need to prepare a business plan. This will explain what products and services you offer, what potential revenue there is, what sets you apart from your competitors and what skills and experience you have to start and grow the business. It will also include financial projections highlighting how much funding you'll need at what time and what this money will be spent on. You need to research and understand how you can turn your idea into a viable business before you invest lots of time and money. Your plan will be helpful to convince other people of the value of your business.               

You can download free business plan templates and find help and advice on how to write your business plan here:

https://www.gov.uk/write-business-plan