Business Plan Basics
A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. As it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.
For on-line guidelines on Preparing a Business Plan the following links provide excellent outlines and suggestions.
- SBA web site includes information on writing a business plan, and has On-Line courses that provide step-by-step assistance in this most important part of starting a business. You will need to register but courses are free.
The Connecticut Small Business Development Center (SBDC), a program of the SBA and UConn offers classes and one on one counseling.
You may also make an appointment with a SCORE counselor, who will work with you on the Business Planning process.