The Business Plan

Intelligently Outline Your New Business Venture
A business plan is a comprehensive and organized way to put the details on paper.



Components of the Business Plan

When you apply for a job, a prospective employer requests you to send a resume of your qualifications and credentials, as well as your employment goals and objectives. This is known as a personal resume in order for you to be considered for an open position with the firm.

Simply said, a lending agency considering your enterprise for a loan requires a resume of your business credentials and qualifications, as well as your business goals and accurate predictions of future results backed up by bank statements outlining your net worth and credit history. This is known as a Business Plan and is used by the agency to consider your company for startup or ongoing business capital.

Unless you are financially independent, you will require bank financing to purchase inventory and business equipment as well as funds to purchase or lease business property such as real estate and vehicles, if necessary.

Since the bank is using its depositors' money, it has to feel comfortable with the risk it is taking in advancing you the funds. Your business plan will determine whether it is willing to take that risk. If it is willing, then the interest rate charged to you is directly linked to that risk taken.

Most banks or other lending agencies require the following:

• A personal statement by you as to your purpose in starting this business, as well as what you hope to accomplish in the future;
• Your personal qualifications and the qualifications of your business partners, if any, to establish the necessary technical expertise to conduct a successful business venture, and a notarized listing of existing personal assets and liabilities, referred to as a balance sheet, which establishes your net worth that can be used as collateral for a bank loan;
• A pro forma balance sheet and income statement, previously called a P&L, indicating predicted financial figures based on previous business operations, if available, for estimating future revenues;
• A cash flow analysis giving an accurate estimate of cash “inflows” and “outgoes” providing the prospective lender with a sense of the financial strength of your business, present and future, as well as an indicator of your ability to repay borrowed money with interest. This will also be used to indicate your ability to satisfy payroll (including taxes), vendor invoices, and lease payments when due.

Business Starter Tips will assist you in writing your business plan.

Upon receipt of your “go-ahead” authorization, we will conduct an in-depth evaluation of your startup venture and make recommendations concerning the direction to be followed to establish a possible successful path to your financial security.

After review of your qualifications and resources, our staff will put together a professional business plan to take to your local lending agency for consideration of a startup loan. With your permission, we can lend our expertise to facilitate the necessary pre-requisites for your bank to look favorably upon your application.

If you wish, we can assist you in completing your loan application to the satisfaction of your bank, and we will be available for on-going support to lend professional credibility to your interaction with your bank.

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