A survey by NAB National Australia Bank found that one third of Australian small businesses fail because they don't have a business plan. Another survey of Palo Alto companies found that business owners with a completed business plan are nearly twice as likely to be successful when securing funding and growing their business. Writing a business plan will force you to look at your product or service objectively and understand your strengths as well as your weaknesses.
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A business plan is a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time.
It is important to prepare a business plan when starting or growing your business and review it regularly to keep it up to date.
A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. Read Why do I need a business plan to find out how writing a business plan can assist your business.
Once you've read Before writing your plan and conducted research into the feasibility of your new business you're ready to write your plan. Download our marketing plan template to list your business goals and create a plan to achieve them. The Ultimate Collection of Business Documents Templates/10 (84 reviews).