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But you should also address the various risk factors of the business, Allen says.
Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors, taking their mind off your business and putting it on the mistakes you made.
If writing and editing aren’t your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.
Preparing To Write Your Business Plan Writing Your Business Plan Finalizing Your Business Plan Help Writing a Business Plan Show 1 more... He has over 40 years of experience in Business & Finance.
Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas.
Appendix Business plan tips and resources This is the first page of your business plan.
» MORE: Best loans for working capital [Back to top] Here, you’ll list your business’s legal structure — such as a sole proprietorship, partnership or corporation — as well as key employees, managers or other owners of the business.
Accuracy is key, so carefully analyze your past financial statements before giving projections.
Your goals may be aggressive, but they should also be realistic.
However, if you’re an existing business seeking small-business loans, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.
You may also include ratios that highlight the financial health of your business, such as: [Back to top] This is a critical part of your business plan if you’re seeking financing or investors.