How to write a good business plan

As a small business owner, if you're looking to attract finance, apply for a grant or gain buy-in from stakeholders, a good business plan is vital. Matt Henkes investigates how to get it right.

Early in the life of any start-up, there is likely to come a time when you will require a well produced business plan. While the varying amount of work needed to produce one of these at different levels should not be taken lightly, there are people on hand to help.

Whether trying to attract finance, apply for small business grants or gain buy-in from potential investors, stakeholders or partners, a business plan will be an essential part of the process. Sample business plans are available on line, and will help give you an idea of what's required.

"It's the old adage, if you don't plan, you plan to fail," says Roger Hetherington of Business Link East. "Investors and stakeholders need to have something to show them what the return will be."

The level of detail required will depend on who you're pitching to.