You wouldn’t build a house without a detailed blueprint of your plans, a set of tools and a clear idea of the costs
You wouldn’t build a house without a detailed blueprint of your plans, a set of rules and a clear idea of costs. We feel the same way about building a business, that’s why there is the Start Up Loans Business Plan which have been designed to help you organise your business, develop your business and work out what you may need the loan towards.
What is a business plan?
A business plan is a written document/blueprint for your business that describes how your business defines its objectives and how it will go about achieving them, helping you to understand your goals and how you plan to achieve them.
A business plan helps you to understand how well you know your market (your customers and your competitors) and what resources you’ll need to deliver and promote your products or services.
It also tells us how you plan to make money and ensure that your business is sustainable.
What is a cash flow forecast?
A cash flow forecast is an estimate of the money you expect your business to bring in and pay out over a period of time. It reflects all of your revenue sources such as sales and other payments from customers and your business expenses such as supplier payments, premises and tax.
It helps us understand what your business plans are and allows you to predict the financial performance of your business. It also includes sales assumptions to help you work out your anticipated sales and cost of sales for your business for the next 12-months.
What is a personal survival budget?
A personal survival budget is a list of all the money you earn or receive in an average month, such as salary, benefit payments or other family allowance less all the costs you incur that month, such as rent/mortgage, utility bills and grocery bills.
It helps us determine whether you will be able to manage your monthly loan repayments and whether your business will be able to support your lifestyle.