| Many first-time business owners are | | | | investors. As an alternative, outline details |
| completely overwhelmed or unprepared by the | | | | of what you have contributed to the industry |
| amount of small business costs associated | | | | that you are currently in or plan on |
| with operating a business. Small business | | | | entering. Without sounding arrogant, mention |
| costs often lead to the failure of many | | | | some details or things that you have changed |
| businesses, especially during the first year, | | | | or something you have done differently than |
| or they even prevent them from getting | | | | others in your market that has proved to be |
| started in the first place. Through a wide | | | | successful. Also, discuss how your business |
| array of government and private programs, | | | | has grown in recent months or years and don't |
| however, many small business owners have | | | | be shy about your predicted growth. Your |
| helpful options to help them finance their | | | | excitement and passion regarding your new |
| mounting small business costs. | | | | business needs to be seen in the writing of |
| | | | your business plan to help increase your |
| A business plan is a necessity for obtaining | | | | chances of getting a business startup loan. |
| business startup loans and funding for your | | | | |
| business. Without one, most banks and | | | | One of the last parts of a well-written |
| investors will not even consider providing | | | | business plan, but certainly not the least |
| you with business startup loans or other | | | | important, is your marketing plan analysis. |
| funding for your new business. But a business | | | | This is an explanation of your demographics |
| plan provides more than just the opportunity | | | | using facts and figures and a study done |
| to receive funding. Properly done it is also | | | | about your new, potential customers and |
| a blueprint for you to map out your future | | | | clients. This section also explains your |
| success in a written plan that you can stick | | | | advertising plans, especially your target |
| to. | | | | market and how you intend to reach them. This |
| | | | section must show that you have done |
| A business plan for the sole purpose of | | | | extensive research, appropriate with your |
| receiving a small business startup loan must | | | | market to ensure that your product or service |
| contain several components. The first few | | | | has a large demand. In order to obtain small |
| pages include the Executive Summary and the | | | | business startup loans, you will also need to |
| Table of Contents. After this is the company | | | | include a sound financial plan, including |
| description. This is one of the most | | | | pro-forma financial statements for your new |
| important sections of a business plan. Your | | | | business. |
| company description will give potential | | | | |
| investors a short history of your small | | | | Small business costs can be a large concern |
| business along with the future you are | | | | for entrepreneurs and first-time business |
| planning for it. It describes plans you might | | | | owners. Fortunately, small business owners |
| have to expand your business. For purposes of | | | | have access to business startup loans as well |
| getting small business startup loans, this is | | | | as other forms of business startup funding to |
| one of the sections that loan providers and | | | | help them overcome their financial stress. A |
| investors are most interested in. | | | | business plan is an ideal way to show |
| | | | investors that you are serious about your new |
| In the company description, you will want to | | | | venture and that you know how to make it a |
| avoid mentioning that your business is a | | | | success. With a some extra financial help, |
| startup business. Startup businesses are | | | | most small businesses can pull through the |
| considered very risky investments by most | | | | tough times and remain a viable business. |