How to write a business case

• An executive summary: Many investors make their decision based on this first section and it's sensible to write it when you've completed the rest of the plan. Don't make it longer than two pages and include the highlights from the sections that follow, although avoid turning it into a dull 'table of contents'. If you're using your plan to raise money be clear about an exit strategy so that investors know how long their money will be tied up for.

• The business: Explain what you do, the sector you're in, what sets you apart from your competitors and your vision for the future. Mention any intellectual property you own such as patents.

• Marketing and sales: Provide hard figures on the size of your market, your share in it and your main competitors. Who are your key customers, what trends drive the market and do you expect any developments? How will you sell and market your product or service? Put detailed research in an appendix.

• Your team: Stress skills such as sales, marketing and finance and knowledge of the market or operations. Include advisors like lawyers and state what will be carried out in-house and what will be outsourced.

• Your operations: Where are you based and do you own or rent the property and machinery? How old is it and will you need to replace it? Do you have stock and quality controls?

• Financial forecasts: Provide forecasts for the next three to five years and include most detail for the first year. Cashflow statements will show that you have enough working capital. If you will need to borrow money describe how you will repay it and when. A profit and loss forecast must include projected sales, the cost of providing goods and services and overheads. Include a risk assessment that covers what you would do if disaster hit your industry.

Review your business plan regularly - at least once a year but more often if the market changes. It will help to keep you focused on your goals and allow you to make the most of opportunities that may crop up at short notice.

For business plan templates, visit: http://office.microsoft.com

See examples on: http://www.bplans.com and Chartered Institute of Marketing: http://www.cim.co.uk