How to write business plans

'What do I write in a business plan?' is one of our most frequently asked questions. You'll find a lot of free business plan templates on the web, but the content of your business plan will depend on your sector and business. If you're a charity, for example, you may need a section on funding arrangements, and if you're a company that has already been trading you'll need to include historical financials. If your plan is for a specific purpose, for example to raise money from a bank or to access funding from Business Link, it's worth asking if they have a preferred format or template for business plans. An outline structure for your business plan would be as follows:

1) Executive Summary

2) Business background
Overview of your company and your products or services

3) Market analysis
The size and growth of the market and key market trends
The competition
Critical success factors

4) Marketing strategy
Marketing objectives and target market
Promotional strategy
Sales strategy

5) Management and operational plan
Ownership
Personnel and responsibilities
Supplier assessment
Stock holding
Facility assessment
Risk analysis

6) Financial projections
Summary profit and loss
Sales forecasts by product range
Key assumptions for revenue projections

7) Appendices
Appendix 1 – Product, service and/or company background (e.g. brochures)
Appendix 2 – CVs (owner and or key board members)
Appendix 3 – Financial information (12 month profit and loss forecast, 12 month historical cashflow, detailed monthly sales proforma, 12 month forecast cashflow, schedule of funding requirements)