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A business plan is a document that states the purpose of your business, including the range of services you will supply. It also includes the goals you have for your business, with measurable, definite outcomes. The business plan is one of the most effective management tools a business can employ, and it can help keep you on track over several months and even years.

Self-Counsel Press publishes business forms kits, if you would like more information on structuring your own business plan.

This simple format can be adapted and expanded as necessary for your business, no matter how large or small.

A more formal business plan will be necessary if you need to borrow money to start up your business. A bank or other financial institution will want to see a business plan that includes information on the assets and/or capital you already have, the amount of loan you need, how long you’ll need to pay back the loan, and the purpose of the loan. Before you begin your business plan, ask your financial institution if any other information, or a specific format for the plan, is required.