If you’re seeking funds for business expansion, include a detailed history of your current business practices and growth.
Glenda Taylor is a contractor and a full-time writer specializing in construction writing.
Your business objectives might be feasible, and your market analysis might show customer need, but an investor also wants to know about the industry as a whole.
The Industry section of your business plan should list current competition and the likelihood of future competition.
The resources to write a small business plan are available through local business development centers as well as business journals and industry publications.
Write down basic information about your company, including its mission statement, target market and goals.
Your business plan serves the same purpose; it identifies your market, analyzes the industry and factors in probable costs and profits.
Keep it brief, keep it truthful and back up your logic with figures. Use everyday language and outline your plan, grouping similar ideas under the same headings. A banker or investor doesn’t have time to wade through lengthy explanations.
Break goals down into quarterly, annual and long-term goals.
At this state, the notes are informal and the basis of your research.