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Chartered Professional Accountant

We see
more than numbers.

Business Plan


What is a Business Plan?

  • It is a written summary of what is to be accomplished by being in business and how to organize resources to achieve the goals set out in the plan.

  • It is a plan for operating the business and measuring the progress towards those goals.

  • It is the most important document to create and review regularly.

Why Create a Business Plan?

  • To encourage realism.

  • To identify customers, markets, pricing strategy and competition.

  • To improve business management by focusing on the business goals.

  • To save time, energy and money.

  • To establish the amount of financing required when needed, and demonstrate to a lender how a loan is to be repaid.

  • To help convince a lender that the borrower is well managed and is a good loan risk.

Headings to include in a Business Plan

The Executive Summary

  • Introductory Summary
  • Table of Contents

Business Concept

  • Description of the Industry
  • Description of the Business Venture
  • Business Goals
  • Marketing Plan
  • Sales Forecast
  • Production Plan for Manufacturing
  • Production Plan for Retail & Service
  • Corporate Structure
  • Risk Assessment
  • Action Plan

Financial Plan

  • Financial Statements
  • Financial Forecasts
  • Financing and Capitalization
  • Operating Loan
  • Present Financing
  • References


  • Personal Net Worth Statement
  • Letters of Intent
  • List of Inventory
  • List of Leasehold Improvements
  • List of Capital Assets
  • Price Lists
  • Description of Insurance Coverage
  • Accounts Receivable Summary
  • Accounts Payable Summary
  • Copies of Legal Agreements
  • Appraisals

Specifics to Consider in a Business Plan:

  • What products and services do you plan to sell?
  • Where do you want the selling to occur?
  • How are you going to promote and market your business?
  • Who is your market?
  • Do you have reliable and efficient suppliers and alternative suppliers?
  • Who is the competition to your business?
  • What are your sales and revenue projections?
  • How much money do you need to operate profitably?
  • What will you do if your business exceeds your expectations?
  • What does your business expansion plan look like?
  • What management skills do you possess, and who will supply the expertise you lack?
  • What is your contingency plan if you do not reach your sales targets or if your partners disagree with your ideas?
  • What is your succession plan if you or your partners die or become inactive?


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Home | Contact | Why Choose Us? | Services | Record Keeping | Incorporate? | Financial Control | Getting Started | Business Plan | Income Tax Checklist | Links | Privacy

Collins & Co Chartered Professional Accountant Victoria BC
Serving the accounting needs of the Victoria BC Business Owner since 1989

Call us for a free 1/2 hour confidential appraisal before you buy, sell or expand a business.