Writing A Business Plan
A business plan is not just a document for investors or banks. It is a thinking tool that forces you to work through the details of your business before you commit time and money. A good business plan does not need to be long — it needs to be honest, specific and grounded in real research. This pathway walks you through writing one that is actually useful.
The executive summary is a one-page overview of your entire business plan. Write it last, even though it appears first. It should cover: what your business does, who it serves, what problem it solves, how it makes money, and what you are asking for (if anything).
The business overview section goes into more detail about your business concept. Describe what you sell, how you deliver it, and what makes you different from competitors. Be specific — vague descriptions like "high-quality service" mean nothing. What specifically makes your offering better or different?
Include your mission — a short statement of why your business exists and what it is trying to achieve. This does not need to be grand or inspirational. It just needs to be true and useful as a guide for decision-making.
State your business structure (sole trader, limited company etc.), your trading name, your registered address and when you started or plan to start trading.
Good to know
- Keep the executive summary to one page — if you cannot summarise your business in a page, you do not understand it well enough yet
- Write in plain English — avoid jargon even if your audience is sophisticated
- Be honest about where you are — investors and lenders can spot optimism that is not backed by evidence
Watch out for
- Writing a generic mission statement that could apply to any business
- Spending too long on the overview and not enough on the financial projections
- Making claims about your uniqueness without evidence to back them up
Ready for the next step?
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