Benefits of a business plan

When you are starting out, your business plan can help you secure financing and investment

Your business plan outlines:

1. Your vision for the business; and

2. The actions that will help you achieve it.

Your business plan does more than tell others what you plan to do. A good business plan can help you test the feasibility of your business idea, set operational and financial objectives, and make sure your business is manageable and effective.

You will need to revisit your business plan regularly as your business evolves, and the business environment changes. These changes could include increased competition, advances in technology or the expectations of your customers.

• What to include in your business plan

• Write your business plan

• Video: How to write a business plan in 8 steps

• Create your one-page action plan

Added to the above is this comprehensive Guide to Writing a Business Plan.