Tuesday, 28 March 2017

Information and commentary for the small business banking industry

Why your small business customers need a business plan

23 Feb

When you’re thinking of resources for the small business section of your bank’s website, a business plan guide and template should be at the core of what you offer. All too often, people get an idea for a business and then plunge in without thinking it through properly.

A business plan helps to crystallize their ideas, lay out their goals and objectives, remind them to run a break-even analysis, and includes the results of a cash flow and sales forecast. And if you’re talking to them about it, you’ll probably want to remind them that any lender or investor will want to see a business plan before they agree to lend or invest.

There are lots of online tools available to help new small business owners write their first business plan, but if you can provide them with what they need without having to use Google, it’s something they’ll appreciate. Plus, you can sit down with them and go through it, helping to fine tune it.

If your business plan template and guide is easy to use, and includes all the necessary elements, it will help your customers to focus their ideas properly and set them on the path for a smooth launch.

The below article looks at why you need a business plan in more depth.

Read the full article at: rismedia.com

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