I see loads and loads of business plans, produced to try and get funding.
Unfortunately most of them are totally unfocussed. A business plan should give the reader a clear understanding of what you are trying to achieve and how you are going to get there.
You need to understand what lenders are looking for. A reason why they should give it to you, and how you plan to pay it back. Many forget the last bit.
A quick tip, the banks and finance companies do have money, they sometimes want to lend it but YOU have to convince them that your business is the best and they would be foolish to turn it down.
Here’s a few do’s and dont’s (this is for small local businesses)
DONT’S
start babbling on about the number of consumer group A’s or B plusses etc etc in the area
make unrealistic assumptions. Nearly every small business plan I see shows at least £250,000 in the bank at year 3!
talk tecno-babble, you’re dealing with bankers!
Claim there is no risk. Hello?
DO’s
show it to a real mate who will pick holes in it BEFORE anyone else sees it
Have a single page precis on what you want, why you deserve to have it, and what you are bringing to the table (money, security, guarantees etc) how great you are at what you do
There are plenty of online guides available and I have a few that I can pass on.
If you have a plan and want me to have a quick look I will act teacher!
Tags: banking, broker, commercial finance, corporate finance, credit card finance, finance banking leasing commercial loans, funding, funding leasing banking broker, invoice discounting, loans, money, paul dickinson, shop finance, south west, Tags: leasing, weston-super-mare
