BUSINESS PLANS

Do I Need a Business Plan…?

Planning is a critical part of starting any small business; but, unfortunately it is an area in which many potential entrepreneurs fall short.  Give your small business a chance to succeed.  You need to know where you’re going, and how you’ll get there.  This is where your business plan comes into play.  UBA suggest its adoption strongly for the selling of your business, as well as the funding of your business.

Many mistakenly view a business plan as a document executed for the sole purpose of raising capital, either debt or equity. 

The creation of a business plan forces you to set goals, determine the resources you will need to carry out your plan, and foresee any problems that might otherwise “broadside” you.  Taking the time to execute a written plan ensures that you research and learn about your business.  It will help you evaluate the viability of the enterprise, and assist you in setting the right course. 

UBA has staff that can help you think through, and execute such a document.  AND, don’t diminish the plan’s importance for fundraising – IT IS IMPORTANT.  If you can’t show the bankers, or investors your business model in a comprehensive, cohesive format, your chances of funding are greatly diminished.

BUSINESS PLAN OUTLINE: 

     I.                  Description of Business
     II.                 Market Analysis
     III.                Market Plan
     IV.               Operations Plan
     V.                Management Team
     VI.               Financial Plan
     VII.              Appendices