What is a business plan and why do I need one?

A business plan is a road map for the direction of your company. It specifically defines your business and clearly states your goals.

A good business plan is also an important part of any loan package because it provides specific and organized information about your company and how you will repay borrowed money. A basic Business Plan components include:

  • Executive Summary
  • Business Concept
  • Products and Services
  • Market Analysis
  • Marketing Plan
  • Operations
  • Ownership, Management and Organizational Plan
  • Financial Data
  • Critical Risks
  • Appendices/exhibits
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