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Baltimore SourceLink Business Blog

What is a Business Plan? What should I include in it?

Posted Jul 31, 2018

This document summarizes your firm, including your goals and earning objectives. It shows how a loan will be used and repaid. Financial statements (projections for a start-up business) are also included. Business plans are also developed when an existing firm plans a major change in operations.

A business plan is a crucial part of a loan request. It also tells your sales personnel, suppliers, and others about your operations goals. A good business plan helps you allocate resources properly handle unforeseen complications, and make the right decisions.

A Business Plan Includes:

·         An Executive Summary (description of owners)

·         Your management & employees 

·         Your marketing plan

·         A competitive analysis

·         Your Business location

·         Your operations

·         Your Loan Request

·         Financial Statements (Balance Sheet, Income Statement, Personal Financial and Cash Flow)

·         Appendix which explains the details (for example, resumes, inventory evaluation, marketing plans)