Even if this is all brand new to you, think about any transferable skills you’ve developed, life experiences you’ve had or training you’ve completed that may be useful. If you’ve previously worked in a similar business, or have experience running another business, this will help provide confidence that you are in a good position to start up. Our Loan Assessment team will want to see that the Start Up Loan will support your overall business objectives.Īn overview of your experience as it relates to your business. If you are applying for a Start Up Loan, you will of course also need to detail how you intend to use the money if you’re successful. Sometimes these are broken down as short, mid and long-term goals, but it helps if they’re measurable (how will you know if you have achieved this?) and realistic (can you achieve this with the money, resources and time you have?). This section also includes a clear and concise overview of the goals your business is trying to achieve over a set period of time.

Ensures all of your team are working towards the same vision.Ī Business Plan can include whatever information you feel is required to best convey how you are planning to make your business sustainable and, when it comes to applying for a Start Up Loan, the following are the core sections we require.Ī brief description of your business and its core products or services.

Allows you to measure your progress as you go along.

Is often essential for securing external finance for your business (and is required if you’re applying for a Start Up Loan).

Gives you a clear strategy to follow when things get busy.

Helps you set out your goals and spot any potential problems in achieving these goals.

Provides a structured way of organising your thoughts and clarifying your idea.

There are many great reasons why it is worth your time creating a Business Plan – even if you’re not quite ready to apply for a Start Up Loan.

Please note, the following documents should open on any device with a document viewer and editor but for the best user experience, we recommend editing this template on a desktop. While we encourage you to use this template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information. The guide is an annotated version of the Business Plan template with notes from our Business Advisers about what type of information, examples and evidence to include in order to help us understand you and your business.

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