It is positioned at the front of the plan and is usually the first section that a potential investor or lender will read.The summary should: Although the executive summary is the first section of the plan, it is a good idea to write it last – after the other parts of the plan have been finalized.Your business’s success can depend on your plans for the future.
It is also a good idea to get someone who is not involved in the business to read this section of your plan to make sure that anyone can understand it.
Some of the things you should explain in your plan include: You can also include the date the business was registered/incorporated, the name of the business, its address and all contact information.
In this section of your business plan, you will describe what your business is about – its products and/or services – and your plans for the business.
This section usually includes: Remember that the person reading the plan may not understand your business and its products and services as well as you do, so try to avoid using complicated terms.
A business plan is a written document that describes your business, its objectives and strategies, the market you are targeting and your financial forecast.
It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts.
The first 12 months of forecasts will have the most details about costs and revenues, so investors can understand your strategy.
Your financial forecasts should include: It is important to do your research to find out how your business compares to other small businesses in your industry.
For more information on writing your business plan and other business topics, contact Small Business Services today.
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