What Should a Business Plan Include?
- A business plan needs to include a detailed description of your business. This will include sections for marketing, competition, operating procedures, personnel and business insurance.
- You should have financial projections, profit-and-loss statements, loan information and applications, balance sheets, and anything in relation to the business' finances.
- You also need to provide copies of licenses, tax returns, leases, contracts and all other legal documents.
- The size of your business plan will depend on the kind of business you own. Standard business plans average 20 to 40 pages.
- According to the Small Business Administration, there is no single formula for developing a business plan, although there are some elements common to all business plans.
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