It should include: If you think it’s useful, you can add historical or biographical information, but keep this in a separate document.
We don’t provide templates for business plans because plans are specific to each credit union.
However, research from Barclays shows that 1 in 4 businesses don’t have a business plan.
So what are the advantages of business planning and how could it help your business to succeed?
And if you’re looking for finance, then a business plan can make a difference.
Rebecca Mc Neil, MD for Business Lending and Enterprise at Barclays, says: “A strong plan can help applications for finance from a business loan to alternative forms of finance and investment.” Many people assume that a business plan will be a hefty document containing lots of facts and figures, but it doesn’t have to be.You’ll need a draft business plan before you can apply for authorisation to become a credit union.The board is responsible for writing and updating the plan.But we're not gonna lie and say it's all cupcakes and butterflies either: the stresses of growing a company with limited resources, tight budgets, and never enough hours in the day.Whether you’re looking to fund your own small business, or looking to raise money from investors, the business plan below that we've created for you (that you can customize in minutes, not hours! One way to lessen the everyday stress of running a business is to have a plan — a business plan, that is. A plan ensures that the direction you’re headed is clear to you, your employees, and any potential outside investors.Luckily, we’ve specially structured this particular template to work for all new business owners — and made it easy to adjust for your specific industry and product.The aim here is to make your presentation engaging and easily readable.This is a live document and which we will update it periodically, as and when appropriate.Keir is Sage’s dedicated expert in the small business and accountant fields.Jennifer O’Toole, Senior Partner at accountancy firm Thomas R Dixon, says: “.It lets you know where you want to go, what you want to achieve, what you have in order to achieve your goals and probably most importantly what problems you can expect along the way.” “Being able to identify potential threats, problem areas that could affect the business, and to be able to develop coping strategies in a proactive manner rather than in a reactive stance, is key to business survival.” It’s also a great way to share information about your business, to develop your thinking and test scenarios before you make any changes (like leaving your job and going it alone), and it gives you a way to measure how things go when you do start up.