A professionally written business plan is important for starting and running a successful business as it helps entrepreneurs attract investors and lenders to obtain necessary funding. The business plan should include a section describing the business, products, target market and operations. The financial data section is critical for SBA loans as it must show loan applications, budgets, income projections and cash flow forecasts to demonstrate the ability to repay debt and be profitable. Supporting documents such as owner resumes and legal agreements should also be included.

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2. Starting and running a successful business without a professionally written business plan is a big challenge. A business plan is an important document that not only helps entrepreneur in running an effective business, but also aids them to attract potential investors and lenders in order to get required funding. A sound and professionally written business plan is a blue print for survival for every kind of businesses, whether big or small. www.BizPlanCorner.com

3. business plan sections www.BizPlanCorner.com

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5. THE BUSINESS This section describes your business idea, the product or service you are offering, target market, competitors, operating procedures, management strength, and business insurance. www.BizPlanCorner.com

6. FINANCIAL DATA This is the most important section that is a must for SBA loan guarantee as this section shows the lenders whether you have a potential to repay the loan and return profit or not. This section must contain loan applications, capital equipment and supply list, balance sheet, breakeven analysis, income statement, three – year summary, assumptions upon which projections were based and pro – forma cash flow. www.BizPlanCorner.com

7. SUPPORTING DOCUMENTS Personal financial statements of the owners/partners If the business is franchised business, it is necessary to provide a copy of franchise contract. Copy of agreement for building space Copy of all legal documents Resumes of all owners and partners of a business Copies of letters of intent from suppliers, etc www.BizPlanCorner.com

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