Business Plan

Contents

Overview

A business plan is a crucial tool for starting, growing, and managing a successful business in the UK. It's an important document that outlines the goals, strategies, and financial projections of a business. Business plans are usually written for a period of one, two or three years and then should be updated.


Your business should review your goals and mission regularly to your business plan. A business plan should not remain static, it can and should be amended in the context of your industry or sector and external forces. A good example of this is the COVID-19 pandemic.

Reasons to have a business plan

A business plan can serve several purposes, including:


Business Plan Scope

There is no set length for a business plan. However, a typical business plan is usually between 20 to 40 pages in length, excluding appendices. The length of your business plan should be determined by the complexity of your business, your goals, and the intended audience.


It's important to note that a business plan is a dynamic document that should be updated regularly, so the length can vary over time. The key is to ensure that the plan is comprehensive, concise, and effectively communicates the critical elements of your business strategy.

Create a Business Plan

A small business plan typically includes the following sections:

Remember to keep your plan concise and focused, and avoid including unnecessary information. It's also important to regularly review and update your plan as your business grows and changes.


The Prince's Trust has useful Free Business Plan Packs to help.

The Prince's Trust Business Plan Template

Business Plan PDF Template.pdf