Step by Step Guide to Starting a Business

Writing your business plan

A business plan is a written presentation of your business idea and it contains all of the steps you will take to start the business and develop it in the future.

What can a business plan do for me?

The process of writing a business plan can be a real eye-opener and is a critical step in establishing your business.

The business plan has several purposes:

• It is a personal road map of what you need to do and how you will do it.
• It forces you to consider the key issues of importance when starting a business and helps ensure that you don't miss something important.
• It requires you to make financial projections, including documenting the many expenses involved in opening your business, the projected sales and monthly expenses of actual operation, and the volume of business you will need to generate to meet your obligations.
• It shows lenders, suppliers, investors and anyone else involved in your business that you have a plan to succeed.

Most businesses fail because of poor planning. Don't let that be you!

How do I write a business plan?

There is no single business plan that works for everyone. Your business is unique and will require its own specialized plan. These resources will help you understand how a business plan is structured and think about the information that you need to include. But they will not plan your business for you - that is up to you!

• Business planning frequently asked questions
  
  http://www.canadabusiness.ca/eng/86/4879/
  Find the answers to questions often asked about preparing a business plan.
• Business plans - templates and samples
  
  http://www.canadabusiness.ca/eng/86/4878/
  The organizations listed here provide free templates, writing guides and sample plans to help you develop a professional business plan.