Why you need a business plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

A business plan helps you to:

• clarify your business idea

• spot potential problems

• set out your goals

• measure your progress

You’ll need a business plan if you want to secure investment or a loan from a bank.

It can also help to convince customers, suppliers and potential employees to support you.

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