Writing a Business Plan

What is a business plan?

A business will only succeed if you have a good plan. A business plan is usually projected over three to five years and will map out:

• What your business is
• What your market is
• How you intend to finance your business
• How you will grow your business
• How you will advertise and promote your business

By identifying these key areas you can then project how your business will develop.

Remember though, that things don’t always work out the way you intended. So you’ll need to build in some flexibility into your plan.

Why do I need one?

Primarily it is for you, both as a guide and a check on how well prepared you are to start a sustainable business.

Without a well-written and structured business plan, you may find it difficult to get financing. A bank will insist on a business plan before providing financial backing. If you are unemployed and applying to the New Enterprise Allowance Programme, you will also need to present a business plan to get government funding.

How can the TDA help?

Our advisors are experts in creating effective and realistic business plans. We can offer you 1-2-1 business support, where our advisors can go through your plan step by step. Mentoring for certain businesses is also available, which includes adapting your business plan to meet your changing needs as your business develops. We can also advise you on other free business support programmes available to entrepreneurs, such as the New Enterprise Allowance for the unemployed, and other options such as Ready for Business.

We can also help to factor in other elements to your plan, including:

• Selling overseas
• E-commerce and online retail
• Social media promotion and marketing

 

To find out if you are eligible for free support, book an appointment with our Business Advisor at