What to Include in a New Business Plan
A well-crafted business plan isn’t just a blueprint for establishing and growing your business — it’s also key to obtaining funding from financial institutions.
A well-crafted business plan isn’t just a blueprint for establishing and growing your business — it’s also key to obtaining funding from financial institutions.
Utilizing data relevant to your industry, your business plan should lay out the unique edge your business will bring to its target market, how it will generate consistent income, and your initial risk assessment and management plans.
Whether a venture is new or established, lenders assess business plans to ensure they’re viable, sustainable and consistent, often focusing on a set of standard sections.
Overall, your business plan should demonstrate both your knowledge and your commitment. Clear dedication to your business and its plan signals a greater chance you will effectively manage your loan and guide your venture to success.
Visit FNB’s Knowledge Center, Lending Options or SBA Solutions for more information to help you meet your business goals.