Why you need a business plan

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A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

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A business plan helps you to:

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·       clarify your business idea

·       spot potential problems

·       set out your goals

·       measure your progress

 

You’ll need a business plan if you want to secure investment or a loan from a bank. Read about the finance options available for businesses on the Business Finance Guide website.

It can also help to convince customers, suppliers and potential employees to support you.