A business plan helps you to: You’ll need a business plan if you want to secure investment or a loan from a bank.
It’s a good idea to have emergency sources of money before you need them.
Possibilities include maintaining a cash reserve or keeping lots of room on your line of credit.
All other sections of the plan (operations section, management section, marketing section, etc) show an investor whether or not an entrepreneurs' financial projections can materialize as envisioned.
The financial section of the business plan can be developed by you or an accountant.
A business plan is a written document that describes your business.
It covers objectives, strategies, sales, marketing and financial forecasts.
Moreover, some entrepreneurs (business plan writers) feel its imperative to give the reader a quick summary of each forecasted statement, while others only tell the reader how the financial plan section has been organized.
The following example of an Introduction to the Financial Plan supports the latter.
Download a free business plan template on The Prince’s Trust website.
You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances. Get detailed information about how to write a business plan on the Start Up Donut website.