How to write a business plan- Tiscali

The first step is to define the business concept as closely as possible. Is it a product or a service and will it be offered to consumers or other businesses? If it is a franchise, are other franchisees making a profit? If it is an existing business you are buying, why are the vendors moving on? Can you summarise the business idea convincingly in one or two sentences?

An entrepreneur's own skills and experience, together with those of the partners or staff, are some of a venture's most important assets, so a good business plan should indicate what management, financial and commercial talent you and your associates will bring to the enterprise. The document should also show at what stage the business might need to employ more staff and roughly how much such expansion will cost in terms of salary, employers' national insurance contributions and additional administration. Finally, it should indicate how you plan to support yourself, and any family, while the business is developing.