Writing a business plan
Writing a business plan is essential and not as difficult as it may sound, it is simply a way of putting your ideas on paper.
Areas that are usually covered:
- description of the business - brief overview of purpose of business and location.
- evidence of demand for product/service - size and location of market, buying patterns, type of research carried out.
- sales and marketing - how you will promote your product/service, sales targets you've set, competition and how you will overcome it.
- product/service - description and its advantages (and disadvantages).
- management - CV's, training needed, what are these people bringing into business?
- financial forecasts - cash flow forecast, profit and loss, initial financial outlay
Start up loans
London Business Partnership has now been officially designated as an "Enterprise Champion" through its link with London Community Finance and Start Up Loans London Limited.
They can actively support residents in Brent to develop business plans to apply for start up funding under the Government's flagship "Start Up Loan" programme.