It helps us understand how sustainable your plans are and allows you to predict the financial performance of your business. Make sure everything ties together by linking every strategy to your core objectives. Additionally, you will need to demonstrate how you will spread the word about your product/services in order to generate demand, such as using social media, exhibiting at a trade conference or investing in online advertising. We would like to keep you up to date by email with useful business tips, advice and information about our product that can assist with your start up journey. Your sales and marketing plans: This section is all about how you are planning to attract customers. Start Up Loans uses cookies on this website. While we encourage you to use this template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information. It helps us understand your goals and how you plan to achieve them, how well you know your market (your customers and your competitors) and what resources you’ll need to deliver and promote your products or services. A cash flow forecast is an estimate of the money you expect your business to bring in and pay out over a period of time (we require a 12-month forecast). It is designed to help you, and others, understand how you plan to generate money and make your business sustainable. It is a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ. You can also use this section to detail any processes that are important to your operations, as well as any industry, tax or legal regulations related to your business. It’s also a personal tool to help you understand your objectives. Your business and key objectives: A brief description of your business and its core products or services. A Business Plan is like a blue print for your business - it details all your goals and how you plan to achieve them. These simple and professional business plan templates from Templates.net can help you set out your business idea, plan the road map for your business formation and help you attract funding. Please note, the following documents should open on any device with a document viewer and editor but for the best user experience, we recommend editing this template on a desktop. That’s why we require our applicants to provide a range of key business documents with your Start Up Loan application. Consider any risks you face and how you will overcome them. Rather, these two documents should be complementary. Your skills and experience: An overview of your experience as it relates to your business. A startup business should show monthly projections for the first year of business, along with quarterly information for the next two years. If you’re thinking about setting up your own company, getting your business plan right is crucial. Download our free templates to help you organise your thoughts and develop your plans. Our Loan Assessment team will want to see that the Start Up Loan will support your overall business objectives. If you are applying for a Start Up Loan, you will of course also need to detail how you intend to use the money if you’re successful. The other essential part of a business plan is the finance section. Loans are strictly for 18s and over. A business plan is the blueprint for your business and is a great tool for focusing your thinking. Business plan templates. A Business Plan often includes information about your goals, strategies, marketing and sales plans and financial forecasts. Please visit our. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). We feel the same way about building a business. It helps us determine whether you will be able to manage your monthly loan repayments and whether your business will be able to support your lifestyle. Available in several file formats and easily customizable, these files are a great addition to your template library. It’s also good to think about any risks you may face, how you will overcome them and what you will do if things don’t go to plan. British Business Bank plc is a development bank wholly owned by HM Government. A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail? Finance is subject to status. It helps us understand your goals and how you plan to achieve them, how well you know your market (your customers and your competitors) and what resources you’ll need to deliver and promote your products or services. and realistic (can you achieve this with the money, resources and time you have?). Personal loans for business use only. The format of this download is a .zip file. What is a business plan? Here are just seven: A Business Plan can include whatever information you feel is required to best convey how you are planning to make your business sustainable and, when it comes to applying for a Start Up Loan, the following are the core sections we require. Use it to your advantage – your plan will be incredibly useful when it comes to securing loans and investment, but that’s not its only use. The guide is an annotated version of the Business Plan template with notes from our Business Advisers about what type of information, examples and evidence to include in order to help us understand you and your business. © 2020 The Prince's Trust - registered charity: England and Wales 1079675 and Scotland SC041198, The other essential part of a business plan is the finance section. A big part of knowing whether your business will be successful is understanding your audience. Your target customers, market and competition: A summary of key insights that demonstrate you have a strong understanding of your customers (and how to identify them), your market (and how to position yourself within it) and your competitors (and how to differentiate yourself from them on factors like price, quality, brand etc). Privacy Policy Terms and Conditions Transparency. The tips below have been prepared by our Business Advisers and Loan Assessment team to help you understand some of the key things that will strengthen your application. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Finance is subject to status. Ensures all of your team are working towards the same vision. Business plan pack (pdf, 1mb) Business plan template (Word) (doc, 393kb) Business plan template (PDF) (pdf, 3mb) Business plan financial tables (Excel) (xls, 52kb) Apply for our Enterprise programme today. Privacy Policy Terms and Conditions Transparency. Top Tips Be concise Check out our Cash Flow Forecast guide and template >>. our plan will be incredibly useful when it comes to securing loans and investment, but that’s not its only use. Your operational plans: This will be different depending on your business model, but may include information on where you’ll trade (like a home office or external premises), the number of staff you’ll need to employ, what their roles will be and any equipment or tools you’ll need to run your business. Helps you set out your goals and spot any potential problems in achieving these goals. You can update your preferences at any time. Sometimes these are broken down as short, mid and long-term goals, but it helps if they’re measurable (how will you know if you have achieved this?) Loans are strictly for 18s and over. There are many great reasons why it is worth your time creating a Business Plan – even if you’re not quite ready to apply for a Start Up Loan. Being specific is just as important as being concise. It is a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ. Whether you are already running a business, or making plans to start one up, financial planning is a vital part of ensuring your success. But, there's no reason why you can't start crafting your business plan today. You might include information about where you’ll distribute your products, what your branding and logo will be and what pricing you’ll apply. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. The Start-Up Loans Company is a wholly owned subsidiary of British Business Bank plc. We can help you answer this during our Enterprise programme, which provides you with the skills, tools and confidence you need to become your own boss. While we encourage you to use this template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information. We would like to keep you up to date by email with useful business tips, advice and information about our product that can assist with your start up journey. It’s also a personal tool to help you understand your objectives. Gives you a clear strategy to follow when things get busy. Provides a structured way of organising your thoughts and clarifying your idea. Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. A complete legal structure chart for the group can be found at www.british-business-bank.co.uk. Keep up to date with what The Prince's Trust is up to. Though the projections are subjective, in the long run, such data will become more realistic, especially with a solid and working business plan. Because we ask you to complete a Cash Flow Forecast as part of your Start Up Loan application, we don’t require too much detail on this in your Business Plan. And it is deemed as conventional that all the business plans should be consisted of these parts to make it professional, authorized and feasible. When writing a business plan, you'll be required to show Cash Flow Projections for each month over a period of one year as part of the Financial Plan of your startup.

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