simple business plan template uk

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Write a business plan

Download free business plan templates and find help and advice on how to write your business plan.

Business plan templates

Download a free business plan template on The Prince’s Trust website.

You can also download a free cash flow forecast template or a business plan template on the Start Up Loans website to help you manage your finances.

Business plan examples

Read example business plans on the Bplans website.

How to write a business plan

Get detailed information about how to write a business plan on the Start Up Donut website.

Why you need a business plan

A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.

A business plan helps you to:

• clarify your business idea
• spot potential problems
• set out your goals
• measure your progress

You’ll need a business plan if you want to secure investment or a loan from a bank. Read about the finance options available for businesses on the Business Finance Guide website.

It can also help to convince customers, suppliers and potential employees to support you.

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Free Simple Business Plan Template

Our experts

Written and reviewed by:.

Startups.co.uk is reader supported – we may earn a commission from our recommendations, at no extra cost to you and without impacting our editorial impartiality.

Your business plan is the document that adds structure to your proposal and helps you focus your objectives on an achievable and realistic target. It should cover every aspect of what your business journey will look like, from licensing and revenue, to competitor and sector analysis.

Writing a business plan doesn’t need to be a difficult process, but it should take at least a month to be done properly.

In today’s capricious business climate there’s a lot to consider, such as the impact of political challenges like Brexit. These details are especially important in today’s bad economy. Investors are looking for entrepreneurs who are aware of the challenges ahead and how to properly plan for them.

Below, you’ll find everything you need to create a concise, specific and authoritative business plan. So let’s get started turning your idea into a reality!

Click here to download your free Business Plan template PDF – you can fill in your own details and those of your business, its target market, your customers, competitors and your vision for growth.

Our below guide will give you detailed advice on how to write a quality business plan, and our PDF download above can give you a clear template to work through.

But, creating an effective business plan needs….planning! That’s where a high quality planning tool can help.

We recommend creating an account with monday to use this tool – there’s even a free trial . Doing so means you can start your entrepreneurial journey on the right foot.

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Stay informed on the top business stories with Startups.co.uk’s weekly newsletter

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What to include in your business plan template

There’s a lot of information online about how to write a business plan – making it a confusing task to work out what is and isn’t good advice.

We’re here to cut through the noise by telling you exactly what you need to include for a business plan that will satisfy stakeholders and help develop a key identity for your brand. By the end, you’ll have a plan to make even Alan Sugar proud and can get started with the most exciting part – running your business.

Throughout this guide, we’ve featured an example business plan template for a new restaurant opening in Birmingham called ‘The Plew’. In each section, you’ll be able to see what the contents we’re describing would look like in a ‘real-life’ document.

What to include in your business plan:

• Executive Summary
• Personal summary
• Business idea
• Your product or service
• Market analysis
• Competitor analysis
• Cash forecast
• Operations and logistics
• Backup plan
• Top tips for writing a business plan
• Business plan template UK FAQs

1. Executive summary

This section is a summary of your entire business plan. Because of this, it is a good idea to write it at the end of your plan, not the beginning.

Just as with the overall business plan, the executive summary should be clearly written and powerfully persuasive, yet it should balance sales talk with realism in order to be convincing. It should be no more than 1,000 words.

It should cover:

• Mission statement  – what is your company’s purpose?
• Business idea and opportunity – what unique selling point (USP) will you provide?
• Business model – how will your business operate?
• Business objectives – what are you aiming to achieve?
• Target market – who is your customer base?
• Management team – who are the owners/senior staff?
• Competition – who are you competing against?
• Financial summary – can you prove the business will be profitable?
• Marketing strategy – what is your marketing plan and associated costs?
• Timeline – how long will it take to launch/grow your new business?

It sounds like a lot – but don’t feel you have to spend hours putting this together. Here’s what the above information for an executive summary might look like when put into our example business plan template for ‘The Plew’:

Startups’ business plan template example: executive summary

2. Personal summary

Investors want to know who they’re investing in, as much as what. This is where you tell people who you are, and why you’re starting your business.

Outline your general contact details first, giving your telephone number, email address, website or portfolio, and any professional social media profiles you might have.

Run through this checklist to tell the reader more about yourself, and put your business ambitions into context.

• What skills/qualifications do you have?
• What are you passionate about?
• What is/are your area(s) of industry expertise?
• Why do you want to run your own business?

Here’s what our two fictional co-founders of ‘The Plew’ might write in their personal summaries for our example business plan. CEO Gabrielle Shelby, has highlighted her expertise in the restaurant industry, while CFO Freya Moore outlines her accounting and finance knowledge.

Startups’ business plan template example: personal summary

Richard Osborne, founder and CEO of UK Business Forums, says personality is important in a business plan.

“Having a strong, personal reason at the heart of your business model will help keep you going and give you the motivation to carry on,” he affirms.

3. Business idea

This section is essentially to offer a general outline of what your business idea is, and why it brings something new to the market.

Here, you should include your general company details, such as your business name and a  one-line summary of your business idea known as an  elevator pitch. This section should also list a few key business objectives to show how you plan to scale over the next 1-3 years.

We also recommend carrying out a SWOT analysis to tell investors what the strengths, weaknesses, opportunities, and threats are for your business idea. Think about:

• Strengths: ie. why is this a good time to enter the sector?
• Weaknesses: ie. what market challenges might you encounter?
• Opportunities: ie. what demand is your product/service meeting in today’s market?
• Threats: ie. how will the business be financed to maintain liquidity?

In the template below, you can see a breakdown of the above information for ‘The Plew’. At the top is its mission statement: “to craft an unforgettable dining experience in a chic atmosphere.”

Startups’ business plan template example: business idea

Need a business idea? We’ve crunched the numbers and come up with a list of the best business ideas for startup success in 2023 based on today’s most popular and growing industries.

4. Your products or services

Now it’s time to explain what you are selling to customers and how will you produce your sales offering.

Use this section to answer all of the below questions and explain what you plan to sell and how. Just like your business idea outline, your answers should be concise and declarative.

• What product(s) or service(s) will you sell?
• Do you plan to offer new products or services in the future?
• How much does the product or service cost to produce/deliver?
• What is your pricing strategy ?
• What sales channels will you use?
• Are there legal requirements to start this business?
• What about insurance requirements?
• What is the growth potential for the product or service?
• What are the challenges? eg. if you’re looking to sell abroad, acknowledge the potential delays caused by post-Brexit regulations.

What insurance and licensing requirements do you need to consider?

Depending on what your business offers, you might need to invest in insurance or licensing. Our How To Start guides have more details about sector-specific insurance or licensing.

Public Liability, Professional Indemnity, and Employers’ Liability are the most well-known types of business insurance. We’ve listed some other common other licensing and insurance requirements below:

In our example product/service page for ‘The Plew”s business plan, the founders choose to separate this information into multiple pages. Below, they outline their cost and pricing, as well as sales strategy. But they also include an example menu, to offer something a bit more unique and tantalising to the reader:

Startups’ business plan template example: product list and pricing strategy

5. Market analysis

This section demonstrates your understanding of the market you are entering, and any challenges you will likely face when trying to establish your company.

This section pulls all of your target market and customer research together to indicate to stakeholders that you are knowledgable about the sector and how to succeed in it.

• Who is your typical customer and where are they are based? Describe the profile of your expected customers eg. average age, location, budget, interests, etc.
• How many customers will your business reach? Outline the size of your market, and the share of the market that your business can reach.
• Have you sold any products/services to customers already? If yes, describe these sales. If no, have people expressed interest in buying your products or services?
• What have you learned about the market from desk-based research? What are the industry’s current challenges, and how has it been affected by the economic downturn?
• What have you learned about the market from field research? (eg. feedback from market testing like customer questionnaires or focus group feedback).

What is your marketing strategy?

Once you’ve highlighted who your rivals are in the market, you can provide details on how you plan to stand out from them through your marketing strategy. Outline your  business’ USP, your current marketing strategy, and any associated advertising costs.

‘The Plew’ identifies its target audience as young, adventurous people in their mid-30s. Because of the restaurant’s premium service offering, its audience works in a well-paid sector like tech:

Startups’ business plan template example: customer analysis

6. Competitor analysis

This section demonstrates how well you know the key players and rivals in the industry. It should show the research you have carried out in a table format.

Begin by listing the key information about your competitors. Don’t worry about sounding too critical, or too positive. Try to prioritise accuracy above all else.

• Business size
• Product/service offering
• Sales channels
• Strengths/weaknesses

Competitors will take two forms, either direct  or  indirect. Direct competitors sell the same or similar products or services. Indirect competitors sell substitute or alternative products or services.

Here’s a breakdown of the strengths, weaknesses, and opportunities, and threats presented by a competitor restaurant for ‘The Plew’ called Eateria 24. At the bottom, the founders have written what learnings they can take from the chart.

Startups’ business plan template example: competitor analysis

Check out our list of the top competitor analysis templates to download free resources for your business, plus advice on what to include and how to get started.

7. Cash forecast

Outline your financial outlook including how much you expect to spend, and make, in your first year

All of your considered costs can be put into one easy-to-read document called a monthly cash forecast. Cash forecasts contain:

1. Incoming costs such as sales revenue, customer account fees, or funding.

2. Outgoing costs such as staff wages or operating expenses. The latter can cover everything from advertising costs to office supplies.

For those firms which have already started trading, include any previous year’s accounts (up to three years) as well as details of any outstanding loans or assets.

Annual cash forecast: what is it?

By conducting 12 monthly cash forecasts, you can create an annual cash forecast to work out when your company will become profitable (also known as breakeven analysis) . You will break even when total incoming costs = total outgoing costs.

In your annual cost budget, make sure to also include month opening/closing balance.  This is important to monitor for accounting, particularly for year-end.

• Opening balance = the amount of cash at the beginning of the month
• Closing balance = the amount of cash at the end of the month

The opening balance of any month will always be the same as the closing balance of the previous month. If you are repeatedly opening months with a negative closing balance, you need to adjust your spending. Here’s an example of what ‘The Plew’s financials might look like in its first year of operation:

Startups’ business plan template example: cash forecast

8. Operations and logistics

Explain how your day-to-day business activities will be run, including key business partnerships around production and delivery.

A.) Production

List all of the behind the scenes information about how your business will operate. Include:

• Management team – who do you plan to hire as senior staff and why?
• Premises –  where will you be based? What will be the cost?
• Materials –  what materials/equipment will you need to make your product/service?
• Staffing –  how many employees will you hire? How much will they cost?
• Insurance – what insurance do you need for production?

B.) Delivery

Detail how your customers will receive your product or service. Include:

• Distribution –  how will you sell your product to customers?
• Transport –  how will you transport the product/service to customers or partners?
• Insurance –  what insurance do you need for delivery?

C.) Supplier analysis

Lastly, you should carry out a supplier analysis.  Write down 2-3 suppliers you plan to use as part of your business operations and evaluate them on factors like location and pricing.

In our example business plan for ‘The Plew’, the founders have chosen to present this information in an easily-digestible chart, breaking down the leadership and employees into two different areas: product development and operations.

Startups’ business plan template example: staffing section

9. Backup plan

Explain how you will manage any surprise losses if your cash forecast does not go to plan.

In the event that your business does not go to plan, there will be costs to incur. A backup plan outlines to potential investors how you will pay back any outstanding loans or debt.

In the short-term: 

If your cash-flow temporarily stalls, what steps could you take to quickly raise money or make savings? For example, by negotiating shorter payment terms with your customers.

In the long-term:

If you’ve noticed a drop in sales that seems to be persisting, what changes can you make that would improve cash flow longer term? For example, can you do more of your business online to reduce rent fees?

To placate investors even further, it’s a good idea to include details about potential support channels you can utilise (eg. a business network or contact) who might be able to help if you get caught in a sticky cash-flow situation.

Startups’ 5 top tips for writing a business plan

• Keep your predictions realistic. Your business plan should showcase your knowledge of the sector and what’s achievable. It’s not about impressing investors with big numbers or meaningless buzzwords.
• Don’t go over 15 pages. Business plans should be engaging, which means sticking to the point and avoiding a lot of long-winded sentences. Keep your executive summary to less than 1,000 words, for example.
• End with supporting documents. Use your appendix to include product diagrams or detailed research findings if these are helpful to your business case.
• Get a second pair of eyes. Everyone misses a spelling error or two – invite a trusted business contact or associate to look over your business plan before you send it anywhere.
• Leave enough time to write! It’s exciting to think about getting your business up and running – but planning is an important step that can’t be rushed over. Spend at least a month on writing to get all the details correct and laid-out.

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have practical resources for helping new businesses get off the ground – use the tool below to get started today.

What Does Your Business Need Help With?

Designing a business plan is very important for laying the foundation of your business. Ensure you spend an appropriate amount of time filling it out, as it could save you many headaches further down the line.

Once your plan is complete, you’ll then be ready to look at other aspects of business set-up, such as registering your company. Sound daunting? Don’t worry!

Our experts have pulled together a simple, comprehensive guide on How to Start a Business in 2024, which will tell you everything you need to know to put your new plan into action.

• Can I write a business plan myself? Absolutely! There are plenty of resources available to help, but the truth is a business plan needs to reflect the owner's personal ambitions and passion - which is why entrepreneurs are best-placed to write their own.
• How long should a business plan be? We recommend your business plan is kept to a maximum of 15 pages. Keep it short and concise - your executive summary, for example, should be no more than 1,000 words.
• Is it OK to copy a business plan? While not technically illegal, copying a business plan will leave you in a poor position to attract investment. Customising your plan to your unique business idea and industry specialism is the best way to persuade stakeholders that you have a winning startup formula.

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Related Articles

Business Planning Templates

The first step in planning your business venture, clarifying your ideas, aims and objectives, is to write a business plan.

Your plan is an essential document to ensure your ideas are feasible and is critical for banks. In addition, new suppliers and larger customers may require this document for credit checks. It's also helpful to track progress against your original targets.

Writing Your Business Plan - Downloads

We have three templates you can use to do your business plan kindly offered by SCORE and Bank of Scotland. There are two for preparing the narrative of your plan (One for a startup business and the other for an existing business) and a cash flow template.

• Template for startup businesses: pdf startup template .
• Template for existing businesses: pdf existing business template .
• Financial planning spreadsheet for startup businesses: Excel financial plan template .

These free business plan templates can help you quickly write a business plan. First, you can download the templates as Adobe PDF files to your computer. Then, you can click each of the template links below to open now or right click your mouse to save for later use.

Basic Outline

A basic business plan outlines the answers to questions about your intentions, such as:

• Is there a demand for your products?
• How are you defining your customer demographics?
• What are your explicit strengths and weaknesses?
• Can you mitigate threats and exploit new market opportunities?
• Are your competitors aggressive or passive?
• Have you assigned key employees to your tactical plans?
• How robust are your financial plans?

Structure of Business Plans

Here's the basic structure in summary from the downloads above:

Executive Summary

It's best to write this section last after you've prepared the rest of your plan because this is simply a summary of the whole plan. It should ideally be one page, but two pages are equally acceptable.

Business Purpose

This area covers the fundamentals of your business, including:

• Mission statement
• Company goals and objectives
• Business philosophy
• The industry you're in
• Legal ownership and key employees

Products and Services

Describe your key products, services, pricing strategy and margins.

Marketing Plan

Detail your marketing activities, including market research, market trends, market size, external market economics, and barriers to entry. As your market is made up of customers, describe their characteristics.

You also need detailed information about your competitors and why you'll be able to take market share from them. And finally, you'll need information about your promotional activities to reach out and entice your potential customers to purchase your products.

Operations Plans

This part describes how you're going to produce your products together with distribution methods to get products to your customers and your wholesale suppliers.

Management and Staff

People are behind all successful businesses, so including the key people and advisors is essential.

Startup Costs Budget

If you're starting a new business, you should detail the costs you'll incur while starting up before the day to day operations commence. For most companies, this is the amount they'll need initial funding for to begin trading.

Financial Plans

Your financial plans should contain enough detail (i.e., monthly) for the first year, then quarterly or yearly for the following two years. You should include a profit and loss account, a cash flow forecast and a Balance Sheet together with a break-even analysis.

Additional Business Planning Help

Use the following sites to get additional business planning templates to assist starting your business.

• Teneric planning templates
• Check your startup costs

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What are you looking for, how to write a business plan uk | free uk business plan template.

• Brought to you by AAT Business Finance Basics

• 1. What is a business plan?
• 2. Download: Free UK business plan template
• 3. Getting started on a business plan
• 4. How to structure a business plan step-by-step
• 5. What content should a business plan include?
• 6. UK business plan example 1: GreenTech Innovations
• 7. UK business plan example 2: EcoBoutique
• 8. UK business plan example 3: BizConsult Solutions
• 9. Business plan writing tips

You’ve got the brilliant business idea, you might have even started setting up or running your business, but writing a business plan and creating business proposals are vital for the launch and growth of any venture. It’s a document where you can organise all your ideas, create a company description, make sure that you’ve considered and researched everything, and ultimately decide that the business is viable. Commitment to making a business plan is a commitment to the business. Read our guide and download your free business plan template. 

What is a business plan?

A business plan is a document that details all the future plans and predictions for your business. It will explain your ideas, map out how they’ll be put into practice and provide relevant information and facts including the business details, management plan, operating plan, marketing and sales strategy , financial projections, and operational and team specifics.  

A business plan is essential in helping you: 

The business plan is a living, working document that should be read and reviewed regularly. If there are multiple directors or partners in the business then they should all be in agreement with what the plan outlines, the detailed information in the plan, and what is written in the plan. You will also need to share it with potential investors. The business plan will formalise all the ideas and assumptions, keep you focused, and ensure that everyone is on the same page.

How long writing your business plan should take will depend on your business size, the complexities of it and what stage you’re at. The most important thing is that it’s user-friendly and doesn’t include any waffle. Get straight to the nitty-gritty so that your stakeholders are engaged when reading it and so that you are more likely to use and update it regularly. Your business plan will probably cover the first three to five years. It’s important to include all the right information (see the checklist below) but it’s not a document to spend too long on. It’s more important that you are spending time running the business.

There are lots of business plan examples out there but typically yours should include: 

• What your business will do 
• The business structure and operations  
• Team members and their expertise 
• Market analysis to see current and projected state of the market and industry
• How your business will sell and market  
• Startup costs and funding required 
• Financial projections 
• Legal requirements 

Writing a business plan will allow you to take a step back and look at the business more objectively, predicting potential issues in advance, such as financial forecasts, and coming up with solutions or a shift in how you originally thought that you would do something.

Download: Free UK business plan template

We want to take the stress out of writing a business plan. Our free downloadable UK business plan template will guide you on everything you need to include and get your business primed for success. 

Download: Please login or register to get your download.

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Getting started on a business plan

Before you begin to make your business plan, keep these three things at the forefront of your mind. 

Focus on what makes you unique

Be creative with your plan, shout about your unique selling proposition (USPs) and what makes you different. Represent your brand using language and visuals, and talk about why you and your team are best to run this business.

Don’t over complicate it

Keep it concise so that you can get on with running the business and so the business plan is an easily readable and usable document. Too much detail in the plan can become confusing.

Be realistic and honest

The business plan will give you an indication of where you’re supposed to be. Review it every few months, update it as you go and change your activities in line with it. It will be impossible for you to predict everything so just give it your best shot and be prepared to be flexible.

How to structure a business plan step-by-step

The business plan should follow this format with these six sections. 

You must be logged in to use this checklist

The executive summary should always be written last. Think of it as a one-pager giving an overview of all the best bits of your plan. If the executive summary doesn’t captivate and interest the reader then it’s unlikely that they will read the rest of your plan. 

Describe your what, where, who and why - including your product/service, brand, location, business model and size. 

This section will involve the most amount of research as you study the current and projected conditions of the market and the industry, and look at what your competition is doing , before making your own marketing plans . 

Explain the experience, skills and credentials of all the people involved. Why are they the right people to make this a success?

Detail your required facilities, premises, systems and software. 

This section translates everything into numbers - your startup and running costs, funding , revenue projections with a cash flow forecast . 

What content should a business plan include?

Take a look at these business plan sections in more detail to see examples of the sort of details you should include, depending on your type of business. In the next section, we’ve used this framework to create some UK business plan examples featuring three fictional small businesses. 

1. The executive summary

Give a topline description of:

• In the most basic terms, what is the business? Is it a product or service? What does it do and how?
• Why is there a need for this business?
• What does this business do better than similar existing businesses?
• What experience or skills do you have that will help make this business a success?
• How will it make money?
• Who will your customers be?
• Who are your main competitors?
• How will people find out about you?
•  What is the opportunity for investors?

2. Business details and description

In this section:

• Describe your what, where, who and why – including your product/service, brand, location, business model and size.
• Food (lunch / dinner)
• Private hire for meetings / parties / events
• Putting on own events (music, comedy)
• Classes (e.g. cocktail making)
• Opening for breakfast / take away coffee
• What will the legal structure of your company be (LTD, PLC, sole trader, partnership, charity, social enterprise)?

3. Marketing and sales strategy

This section will likely be split into the following areas:

Market conditions and competition

You can include your gut instincts about the market here and what you know, but be sure to also back this up with evidence and research.

• Who are your biggest competitors? (Bear in mind competitors don’t always have to be exactly the same type of business, but something that people might spend their money on instead of your product).
• How do your competitors market and price themselves?
• How much is currently spent in your industry and what is demand like?
• What are the barriers to entry?
• What trends are happening internationally within similar businesses (maybe in countries like the US who may be further ahead)?

Target market

• Who is your target market ?
• Create a customer profile with as much detail as possible about your ideal customer.
• Make a list of friends, clients, business contacts, companies to target that might buy from you and include any current customers.
• For example: if you make jewellery, as well as selling it directly to the customer you could consider selling wholesale to other businesses, or starting jewellery making classes.
• What is your brand’s personality and characteristics?
• What does it stand for? What’s your mission statement?
• Do you have a tone of voice and brand guidelines?
• How will your brand do business/work with clients / communicate with customers?
• For example: business cards, leaflets, templates (invoice, e-newsletter), sales presentation.

Sales and marketing plan

• For example: website, social media, email marketing, blogging and blogger outreach, print advertising, radio, PR, partnerships, networking, podcasts, videos, directories, referrals, PPC, SEO.
• Plan your website – domain name , who will build it, what information and functionality does it need?
• Decide on a marketing budget .

4. Management and employees

• Who will make up your team and what relevant skills and experience do they have?
• Do you need to employ people?
• What friends/family/business contacts do you have with skills that might be able to help you (preferably for free)?
• Do you need to outsource anything?

5. Operational set up

• What premises do you need? Where will they be? Where will you work from?
• What assets/tools do you require (and which of these do you already have)?
• Are there any licences that you require? Any other legal considerations?

6. Financial plan and projections

This section should look at the following areas:

• For example: premises, insurance, licences, staff wages, your salary, stock, delivery costs, machinery, tools, computer, printer, telephone, electric, wifi, website, accountant, marketing, travel, design and print, training, photography, networking events, exhibitions, client entertaining.

Startup finance

• How much do you need to start the business and to ensure you have enough cash flow?
• How will you be financing it?
• Include as much detail as you can about your prices, pricing structure and margins.
• How much money do you need to make on a monthly basis to cover your costs and pay yourself and how much do you have to sell to make this figure?

Projected accounts

• Cash-flow forecast 
• Projected balance sheet 
• Projected profit and loss accounts

UK business plan example 1: GreenTech Innovations

1. executive summary.

GreenTech Innovations is a tech startup developing advanced solar panel technology that increases energy efficiency by 20%. This business addresses the growing demand for affordable and sustainable energy solutions. We stand out with our patented technology and a team of experienced professionals. Our revenue model includes direct sales to consumers and partnerships with energy companies. Our customers are environmentally conscious homeowners and businesses. Competitors include SolarCity and SunPower, but our superior technology and lower costs offer a competitive edge. We will use digital marketing and industry trade shows to gain visibility. 

GreenTech Innovations, based in London, specializes in renewable energy products. Our core product is an innovative solar panel with higher efficiency and lower costs. Revenue streams include direct sales, energy company partnerships, and government contracts. We are structured as an LTD company.

Products/services/revenue streams:

• High-efficiency solar panels
• Installation services
• Maintenance contracts
• Licensing our technology to other manufacturers
• Government and commercial contracts

Market conditions and competition: The renewable energy market is growing, driven by environmental concerns and government incentives. Competitors like SolarCity market themselves as premium providers; we will differentiate by offering better technology at a lower price. The UK market spends billions on renewable energy annually, with strong demand forecasted.

Target market: Our target market includes environmentally conscious homeowners and businesses. Ideal customers are tech-savvy, value sustainability, and are looking for long-term savings on energy costs.

The brand: Our brand stands for innovation and sustainability. Our mission is to make renewable energy accessible and affordable. We will communicate through a professional, approachable tone and prioritize customer education.

Sales and marketing plan:

• Website with e-commerce capabilities
• Social media campaigns
• SEO and PPC advertising
• Email marketing
• Partnerships with green energy advocacy groups
• Presence at trade shows and industry conferences

Our team includes Dr. Jane Smith (CEO), a solar energy expert with 20 years of experience, and John Doe (CTO), who holds several patents in solar technology. We plan to hire additional engineers, marketing professionals, and sales staff. Some tasks, such as legal and accounting, will be outsourced.

We need a manufacturing facility in London, equipped with state-of-the-art machinery for solar panel production. Our office will house our R&D lab, administrative offices, and logistics team. Necessary licenses include manufacturing and environmental permits.

6. Financial plan and projections costs:

• Manufacturing equipment: £500,000
• Initial inventory: £200,000
• Facility lease: £100,000/year
• Staff salaries: £300,000/year
• Marketing: £100,000

Startup finance:  We seek £1 million in funding through equity investment and government grants.

Pricing: Our solar panels will be priced competitively at £500 per unit, with a 30% profit margin.

Projected accounts:

• Year 1: Revenue £2 million, Profit £400,000
• Year 2: Revenue £4 million, Profit £1 million
• Year 3: Revenue £8 million, Profit £2.5 million

UK business plan example 2: EcoBoutique

EcoBoutique is a sustainable fashion retailer offering eco-friendly clothing and accessories. Addressing the rising demand for ethical fashion, we differentiate ourselves with unique designs and fair-trade practices. Our team, led by experienced fashion designer Emma Green, will operate from a flagship store in Manchester and an online platform. Our revenue model includes direct sales and partnerships. Our target customers are environmentally conscious consumers. Competitors include other sustainable fashion brands, but our commitment to quality and ethical sourcing sets us apart. We seek £500,000 in funding to establish our store and marketing efforts, promising growth and strong returns.

EcoBoutique, located in Manchester, sells sustainable clothing and accessories. Revenue streams include in-store and online sales, private events, and wholesale partnerships. The company will be structured as an LTD.

• Sustainable clothing (organic cotton, recycled materials)
• Accessories (bags, jewelry)
• Private hire for fashion events
• Online store
• Wholesale to other retailers

Market conditions and competition: The sustainable fashion market is expanding rapidly. Competitors like Patagonia and People Tree use online marketing and brand loyalty strategies. The UK fashion industry sees significant consumer spending, with growing interest in sustainable options.

Target market: Our ideal customers are eco-conscious individuals aged 20-40, interested in fashion and sustainability.

The brand: EcoBoutique stands for ethical fashion and sustainability. Our mission is to provide stylish, eco-friendly clothing. We will use a friendly, informative tone and emphasize our commitment to fair trade.

• Website with e-commerce and blog
• Social media and influencer partnerships
• Email newsletters
• Community events and pop-up shops
• Print advertising in eco-friendly magazines

Our team includes founder Emma Green, a fashion designer with a background in sustainability, and Liam Brown, our marketing manager with extensive retail experience. We will hire sales associates and an e-commerce manager. Some services, such as accounting and web development, will be outsourced.

We need a retail space in Manchester, designed with sustainable materials, and an e-commerce platform. Licenses required include retail and health & safety permits.

• Store renovation: £200,000
• Inventory: £100,000
• Marketing: £50,000
• Staff salaries: £150,000/year
• E-commerce platform: £50,000

Startup finance: We seek £500,000 through a combination of loans, personal investment, and crowdfunding.

Pricing: Clothing items priced between £30-£150, with a 40% profit margin.

• Year 1: Revenue £1 million, Profit £150,000
• Year 2: Revenue £1.5 million, Profit £300,000
• Year 3: Revenue £2 million, Profit £500,000

UK business plan example 3: BizConsult Solutions

BizConsult Solutions is a consulting firm offering business strategy and digital transformation services for SMEs. We address the need for modern, tech-savvy business solutions in a competitive market. Our experienced team, led by Sarah Lee, specializes in helping businesses innovate and grow. We generate revenue through consulting fees, workshops, and retainer agreements. Our target customers are SMEs across various industries. Competitors include larger consulting firms, but our focus on SMEs and personalized service sets us apart. We will use content marketing and networking to attract clients. We seek £300,000 in funding to establish our office and marketing activities, promising steady growth and high returns.

BizConsult Solutions, based in Birmingham, offers consulting services in strategy and digital transformation. Revenue streams include hourly consulting fees, retainer agreements, and workshops. The company will be structured as an LTD.

• Business strategy consulting
• Digital transformation services
• Workshops and training sessions
• Retainer agreements for ongoing support

Market conditions and competition: The consulting market is competitive, with demand for digital transformation services rising. Competitors include large firms like McKinsey and Deloitte, but they primarily target larger enterprises. We focus on SMEs, offering affordable, high-quality services.

Target market: Our target market is SMEs in various sectors, seeking to modernize their operations and strategies.

The brand: BizConsult Solutions is innovative and client-focused. Our mission is to empower SMEs to thrive through strategic and technological advancements. We will communicate through a professional and approachable tone.

• Professional website with case studies and testimonials
• Content marketing (blogs, whitepapers)
• Webinars and online courses
• Networking events and industry conferences
• Email marketing and LinkedIn outreach

Our team includes Sarah Lee (CEO), with 10 years of consulting experience, and Michael O’Connor (CTO), an expert in digital transformation. We will hire additional consultants and administrative staff as needed. We will outsource web development and legal services.

We need an office in Birmingham, equipped with meeting rooms and collaborative workspaces. Essential tools include project management software and CRM systems. Required licenses include business operation permits.

• Office setup: £100,000
• Technology and software: £50,000

Startup finance: We seek £300,000 through a combination of bank loans and private investment.

Pricing: Consulting fees range from £100-£300 per hour, with retainer packages starting at £2,000 per month.

• Year 1: Revenue £500,000, Profit £100,000
• Year 2: Revenue £750,000, Profit £200,000
• Year 3: Revenue £1 million, Profit £350,000

Business plan writing tips

Writing a business plan can take some time and some areas of the plan will be easier to tackle than others. 

• Make initial notes every time you think of something and don’t worry if you can’t cover all points at the start.
• When you are ready to start to write the plan, make sure you use sections and these are in a logical order.
• It is important that your plan is simple, accurate and easy to follow if you are going to ask others to look at it.
• Try to avoid jargon or terms that only people in your type of industry will understand.

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Free Business Plan Template (UK)

Helping you convince investors your business is the one to back

Without a credible and investable business plan, founders are unlikely to succeed in raising the investment they need to grow. All too often we see entrepreneurs attempt to raise funds missing vital information in their lacklustre business plan . It’s why, on average, less than 1% of pitches result in investment. 

At Robot Mascot, we specialise in creating investment materials that convince investors. As the UK’s leading pitch agency, our clients are 40 times more likely to receive investment. This is why we’ve created a free basic business plan template to help you set yourself on the path to funding success.

What is a business plan?

A business plan is a formal written document that describes your business in great detail. Specifically, a business plan outlines your business’s goals and objectives, overarching strategy, and how you plan on implementing the strategy and achieving those goals. 

What is the purpose of a business plan?

Entrepreneurs and startups create business plans to help secure investment for their businesses. 

A business plan is designed to provide you and potential investors with a clear understanding of how you intend to generate money and make your business a success. Your business plan isn’t just for investors however, it is something that you can regularly refer back to, to help you establish and grow your business. For example, having a solid business plan in place can help you to convince potential employees, customers, and suppliers to support your business.

A comprehensive business plan is key to attaining support and funding, whether it be from angel investors or venture capitalists . In fact, according to research , those who finished their business plans were about twice as likely to successfully grow their business, get investment, or land a loan than those who didn’t. That is why we’re here to help you create a bullet-proof plan with our free business plan template for startups.

How to write a business plan? (Template)

A business plan should cover every aspect of your business, from objectives and marketing strategies to financial forecasts . While the format and content of business plans can vary, there are core sections and features that investors will expect to see within your business plan. 

Our free business plan template includes ten key sections along with detailed instructions about how to write and complete each section to help you build a solid plan. 

Our downloadable business plan template includes the following essential sections: 

• Executive Summary
• Company Description
• Products and Services
• Target Market
• Market Research
• Marketing Strategy
• Operations and Logistics
• Management and Organisation
• Start-up Expenses
• Financial Plan

Why is a business plan important?

As well as helping you to attain investor support and funding, a great business plan for investment can help you in a variety of ways. It can help you to:

• Clarify your business idea in a structured manner, and test the validity and strength of your idea
• Set out your goals and objectives, and detail how to achieve them
• Follow a clear strategy 
• Identify any potential problems
• Measure your progress
• Secure external finance for your business (eg. loans)
• Ensure your team are aligned and working toward the same goals and objectives
• Better understand your target market and competitors
• Attract business partners, employees and suppliers
• Plan for the next phase and beyond!

How to write a business plan

Writing a business plan takes a lot of time, thought and energy. To help you create the perfect business plan, here are a few insightful tips: 

1. Keep the plan clear and concise

While detail is important, you don’t want to go into too much depth. No fluff or waffle here, please! Include the most essential things that investors need to know to get them engaged and excited about your idea. Provide enough information in a clear and concise manner to give investors confidence that you have a solid plan in place.

2. Make the plan presentable

Blocks of text can sometimes overwhelm the reader, so make sure you find other ways to present the information. For example, consider using bullet points to highlight key points and tables, graphs, and charts to visualise data. You should also use clear headings and subheadings and ensure consistency in structure, style, and formatting (e.g., font types and sizes).

3. Check your spelling!

Spelling and grammatical errors happen, especially when you’re so immersed in a project such as this. But if the investor picks up on any mistakes, it may give the impression that you haven’t taken enough care with your business plan. To ensure your plan is spelling-error-free and grammatically correct, always get a second pair of eyes to proofread and sense-check your plan to pick up on anything you might have missed.

4. Always refer back to your goals

Your goals and objectives should be at the very heart of your plan, which is why it’s essential to tie everything back to them. When writing each section, always keep your goals in mind. For example, “How does this marketing strategy help to achieve my goal?” This shows the investor that you are constantly thinking about how you can achieve your objectives and gives them confidence that you have been thorough and diligent.

5. Interrogate and refine

Once you’ve written your plan and had someone else review it, it’s time to interrogate and refine your business plan. Try approaching it from an investor’s point of view to make sure you’ve answered any questions they may pose to you. You should also ensure that any goals and objectives you’ve set are realistic and achievable based on your strategy and the evidence you’ve provided.

Finally, share your plan with those around you, whether close friends or trusted experts within your industry. Which parts did they find the most convincing? Are there parts they didn’t understand? Getting genuine feedback before sharing your plan with investors can be very valuable.  

Can I customise a business plan template to fit my specific business?

Yes, you can customise a business plan template to fit your specific business, and that’s why we’ve created it in an easy-to-use format for you to download for free. Tailoring the template allows you to address the unique aspects of your business, such as your industry, target market, and competitive landscape. Using tools like our financial forecasting template can help you create detailed and accurate financial sections, further enhancing the credibility of your business plan.

Can a business plan template be used for both startups and existing businesses?

A business plan template can be used for both startups and existing businesses. Whether you are just starting or looking to expand, our easy-to-use, downloadable free business plan template will guide you through creating a compelling and effective business plan.

Download our free business plan template (UK)

If you’re ready to take the leap and start writing your business plan, allow us to help. Robot Mascot’s free startup business plan template is available in Word and is free to download. It provides all the crucial sections and necessary elements that make a great business plan. 

Our free business plan template is designed for UK startups and entrepreneurs. It offers insightful instructions about layout, structure and what to include in each section to help you cover everything an investor will expect to see. To convince investors and gain their support, having a solid business plan in place is essential. Download our business plan template to kickstart your pitching journey . 

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Business Plan Template: Use our Free Downloadable Tool to Produce a Plan for Your New Business

• How to use our free business plan template 

How do I write a business plan?

What is a business plan.

So you’ve come up with an idea for a business and made the courageous decision to strike out on your own. You’ll get to work on your terms, become your own boss, and hopefully turn a profit by doing something you’re passionate and knowledgeable about. 

Perhaps you can already picture this future business clearly in your head, but before you’ve committed it to text in the form of a business plan, your business idea is just that: an idea. 

And those rosy visions may not necessarily reflect the harsh realities of a competitive market, the difficult choices that lie ahead and the challenge of navigating an unpredictable economy. 

A business plan won’t guarantee that you can weather the inevitable hardships that come with running your own business, but it will allow you to sense-check your assumptions and form contingencies that will give you the best chance of success.

As long as you can provide a realistic picture of where your business is heading, and you can back it up with facts and figures, your business plan can serve as a useful roadmap for the months and years ahead. 

We know that writing a business plan may sound daunting, which is why we’ve also developed a simple new business checklist to help you wrap your head around all the steps involved in getting a new venture off the ground. 

But while our checklist is a great place to start, you may also need to develop a more formal business plan along the way. For example, if you plan to approach investors or go to a bank in the hope of securing a business loan , there is every chance you’ll be asked to prove the clarity of your vision by presenting a business plan. For start-up businesses, this is even more likely.

Plus, by forcing yourself to think critically about the specifics of everything from your marketing strategy to your financial projections, you can spot limitations and areas for improvement in your business before they become a problem. 

While businesses can succeed without a plan, a 2016 study found that founders who take the time to write a business plan are 16% more likely to end up with a viable business than those who press ahead without planning. 

Below, you’ll find our business plan template, along with a brief guide to what information each section will require, and our top tips for filling it in. 

Download our business plan template

To help your business journey run smoothly, we’ve come up with a handy checklist for you to download, which should take the guesswork out of starting your own business. From how to hone your business idea to sorting out your business finances, this guide will steer you through the first steps as you get your new business off the ground. 

How to use our free business plan template 

Our business plan template is broken down into eleven sections. Take your time to fill in each section to the best of your knowledge. 

In some cases, you’ll just have to provide factual information about you and your business. Other sections will require you to conduct in-depth market research and make informed assumptions about your likely costs and takings. 

These sections are inherently speculative, and that’s OK. As long as you can provide a realistic picture of where your business is heading, and back it up with facts and figures, your business plan can serve as a useful roadmap for the months and years ahead. It may also help to secure crucial start-up funding .  

1. Executive summary

This is a concise overview of your entire plan, giving the reader a snapshot of what they can expect in each section. 

Summarise all the most salient points, and aim to keep your summary to under 1,000 words or a couple of pages of text.

Although this will be the first thing a reader will see of your business plan, it’s a good idea to write this section last. Feel free to skip this step for now and come back to it at the end. 

2. Your background

This section explains who you are and why you’re starting this business. 

You should include your personal details, professional experience, and qualifications, as well as how you will plug any skill or knowledge gaps that will help you achieve your goals. 

By explaining the relevance of your professional and personal background to the business idea, you’re demonstrating to investors that you’re a credible candidate for funding. 

3. Products and services

Here, you need to explain exactly what product or services you’re bringing to market, any insurance or legal requirements you need to meet to do so, and your launch strategy. 

Will you be launching new products at a later date? If so, write about your plans in this section. 

4. Costs and pricing

Detail the cost of your products and service by unit, and work out your mark-up and profit. 

This will help you to ensure the economics of your pricing strategy makes sense. 

5. Market analysis 

Describe in detail who your target customers are, their needs, and the size of the market.

6. Market research

Conduct, and explain:

• desk research (looking at industry challenges and opportunities)
• field research (customer questionnaires/market testing)

7. Marketing strategy

Determine which marketing channels you will use, justify why you’re choosing them and establish how much they will cost.

8. Competitor analysis

Identify your direct competitors (businesses offering the same products or services) and indirect competitors (businesses offering similar products or services) and conduct a SWOT analysis. 

SWOT stands for S trengths, W eaknesses, O pportunities, and T hreats. Thinking about things this way will help you align your hopes and plans for your business with the real-world environment in which you’ll be operating.  

9. Operations and logistics

Explain how production and delivery will work at your business day-to-day. Think about the following, and for every relevant point, provide details relating to your business:

10. Financial projections

This is perhaps the most complicated section. We’ve created a number of template tables for you to detail your sales and costs, your cash-flow forecast, and your personal survival budget. 

• Sales assumptions: Your sales assumptions template allows you to estimate a year’s worth of sales and costs broken down by product and service type.  
• Cash-flow forecast: Y our cash-flow forecast is exclusively for business income (revenue) and expenditure (rent, wages, utilities). Your revenue estimates should be realistic and supportable. It’s wise to be conservative for your first few months of trading.
• Personal survival budget: Here you should include only your personal average monthly income minus costs and expenses. This proves to potential investors that you can meet your loan repayments. You can use personal bank statements to estimate your typical monthly incomings and outgoings.

11. Back-up plan

Things don’t always go according to plan. Here you need to break down your short and long-term proposal for meeting any outstanding debt repayments in the event that you experience financial hardship. 

This can include quick ways to raise cash, savings or a support network you could draw upon, or a plan to renegotiate your payment terms with suppliers. 

There is no one way to write a business plan, and the information you put into your plan doesn’t have to necessarily be set in stone.

When you write your business plan, bear in mind that it is a living document, liable to change as your plans and circumstances change. 

If you’re struggling with writing a business plan, using a free business plan template, like the one you can download in this article, should make this task easier. 

While you’re following the above steps, bear these additional tips in mind to make sure your business plan makes sense to you and to anyone else who reads it:

• Be concise… Keep your business plan relatively short by only including necessary information and being precise in your language. Not only will this make it easier to write but it will encourage you to be analytical. After all, it’s easy to dress up an empty idea in flowery language.
• … but be detailed. However, make sure to include the right level of detail about the things that matter, especially when it comes to financial forecasts and competitor analysis. 
• Be realistic: It’s fine to dream big, but keep your expectations and projections achievable and grounded in evidence. You can always rework them if your circumstances change.
• Seek feedback: Find someone to read over your business plan whose opinion you value. Ideally, this should be someone who has experience in business, like a mentor.

A business plan is a document describing your business and setting out how you intend to achieve your business goals. 

Business plans are a useful way to organise your idea in your own mind, and the process of writing a business plan may throw up problems and solutions which you wouldn’t have otherwise considered. 

A business plan may also be needed to secure external funding, like a start up loan. In this case, presenting a business plan to a prospective lender shows that you have thought about your business idea and that you’re serious about making a success of it. 

If you’re struggling to write a business plan, then our free, downloadable business plan template can help. 

Image source: Getty Images

About the Author

George Harrison is a lead writer at NerdWallet. A graduate of the London School of Economics, George has worked as a professional writer for almost a decade, with articles appearing…

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How to write a business plan

Writing a business plan will help nail down your idea and give you a blueprint for executing it.

What is a business plan?

A business plan describes your product or service, identifies who the customer is, explains why they need your product or service, and shows how you’ll make money from that opportunity.

Why write a business plan

How you write a business plan will depend on what you need it to do. There are a couple of key jobs a business plan can have. It can:

• explain a business idea
• convince lenders or investors to put money behind that business idea

It doesn’t take a book to do the first job. You can write a business plan that’s short, to the point, and easy to update. That may be all you ever need. But if you’re going for funding, your business plan will need to be a good deal longer and more comprehensive.

Why every business should start with a one-pager

Even if you will eventually write a long business plan, a one-pager is a great place to start. It could take as little as an hour to do your first draft and will make your idea stronger. Writing about customers, competitors, income and expenses will help develop your thinking.

How to write a one-page business plan

You’ll see in the example below that there are nine sections, or things to write about. So give yourself just a small space to write about each. Keeping it short will help you focus on what’s important.

Download a one-page business plan template.

When you need a longer business plan

The greater the risk you’re taking, the more comprehensive your plan should be. For instance, you’ll need to write a long-form business plan if you’re going to fund it with other people’s money. Banks and investors will expect it.

How to write a longer business plan

Long-form business plans touch on all the same things as a one-pager, but they go into more detail and contain fewer assumptions.

Back-of-the-napkin numbers are replaced by forecasts and budgets. And guesstimates for things like costs, market size, customer preferences, and competitor weaknesses need to be backed up with proof. It’s a good idea to involve an accountant or bookkeeper in developing the budgeting and finance sections.

Contents of a business plan:

• Executive summary: A short summary of the main points of your business plan. Write it last.
• Company overview: Identify your industry, what you’re selling, and how you’ll charge.
• Products or services: Include a description of the problem you’re solving for customers.
• Market analysis: Describe your target market, and examine the competition.
• Risk assessment: Flag potential hurdles (including assumptions that could be proved wrong).
• Marketing and sales plan: How will you find customers and make sales? How many sales will there be?
• Milestones: What needs to happen and when?
• Progress reporting: When and how will you report against the milestones?
• Team: Who will be involved in the business? Note their skills and responsibilities.
• Budget: Estimate your costs and income (and any debt that you plan to take on).
• Finance: Show how you’ll fund the business.

You can also add an appendix with any supporting or background documents.

Make a start by downloading our free business plan template.

How not to write a business plan

Avoid these common business planning mistakes:

• Underestimating how much money it will take to get started
• Failing to budget for the first few months of operation (before revenues start flowing)
• Expecting sales to ramp up too fast
• Relying too heavily on one or two customers (or suppliers)
• Not including contingencies for unexpected delays or costs

For more information, visit the gov.uk page on writing a business plan , which comes complete with templates to help get you started.

Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.

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Protect your wellbeing from the pressures of starting and running a business and develop key business skills.

• Dealing with stress
• Manage your time
• Self-confidence
• Write a business plan
• Business strategy
• Start up costs
• Start up funding
• Setting prices
• How to work out tax and NI
• Accounting and bookkeeping
• Licences and registration
• Protecting intellectual property
• Insurance for business
• Workplace health, safety and environmental rules
• Looking after your customers
• Promote your business
• Your marketing strategy
• Sales techniques
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• Recruitment, contracts, discipline and grievance
• Employment rights
• Hiring employees
• Buying IT for your new business
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• How to scale up your business
• Funding business growth
• Start exporting
• Personal development

Business plan template

A well-written business plan is an essential tool for any business. Not only can it help you attract funding, it can also help you test your business idea.

What should I include in a business plan?

Most business plans cover the next 12-36 months and include the following:

• Outline the aims and goals for the business and how the business owner plans to achieve those goals.
• The background of the business
• Introduce the business' management team.
• profit and loss forecasts,
• a breakdown of how much money will be required to set up and run the business,
• sales forecasts,
• pricing strategy.
• Overview of the market the business operates within, the customers the business plans to target and what marketing methods will be used.
• Assessment of comparative strengths, weaknesses, opportunities and threats posed by rivals within that market.
• The last thing to be written is usually the executive summary - which should appear at the front of the business plan. It rounds up all the detailed information contained in the main body of the business plan.

A business plan does not need to be a lengthy document but should provide these key elements.

Business plan templates

These simple and professional business plan templates from Templates.net can help you set out your business idea, plan the road map for your business formation and help you attract funding.

Available in several file formats and easily customizable, these files are a great addition to your template library.

Download the business plan templates (charge applicable).

• Start up business plan
• Simple business plan
• One-page business plan
• Sample business plan
• Business plan outline

Browse topics: Business planning

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Business planning tips

On this page

Failing to plan is...well, you know the rest

To build a successful business, having a clear mission and specific goals is vital. The best way to do this is to write a thorough business plan setting out exactly how you're going to turn your dreams into reality.

Do's and don'ts when writing a plan

Do be realistic.

While it's important to show ambition, be realistic when projecting your results.

Do check for accuracy

It may be an old cliche, but you only get one chance to make a first impression. Make sure you triple check the accuracy of your content and ask a colleague or mentor to proof read it with a fresh pair of eyes.

Do your research

Make sure all research is up to date and accurate, and that any claims can be substantiated. You need to be aware of the good, the bad and the ugly!

Don't include your CV

Your business plan is about the company you intend to run, not ones you may have run in the past. A link to a completed LinkedIn profile will tell someone all they need to know about you.

Don't say you have no competition

There's always competition, the key is understanding your market and convincing your customers that your product is superior.

Don't start at the start

Start with an executive summary. This should be one page long and is your elevator pitch on paper.

6 steps to writing a business plan

Our in-depth six-step guide can help you put together a robust business plan and set you up for success or expansion.

Introduction

A business plan is a written description of your company, your aspirations and ambitions, and the methods by which you can achieve your goals.

Creating a business plan gives you a clearer understanding of what you need to do to reach your objectives. By producing a detailed business plan containing facts, figures, statistics and a summary of your skills, you will give potential investors all the information they need to buy in to your proposal.

Getting started

Once you've decided to write a business plan, the next step is deciding what needs to be included. And remember, your plan should be flexible.

An executive summary exists to summarise your ambitions and approach in a concise way. This is not always an easy task, but it's a good way to ensure you remain focussed on both the bigger picture and your core ambitions.

Your business summary should

• Describe your business - how you want it to grow, the niche you fill, why you think it can succeed
• Describe the sector it sits in - if the sector is strong, where will you fit? If it's performing poorly how will you buck the trend?

Product summary

It's worth giving your product or service a section of its own. Outline what makes it different from similar offerings and discuss the reasons that you will succeed.

Aims, objectives and audience

You should cover:

• Where do you want your idea to go and how are you going to get there?
• In a year's time what shape will your business be in?
• Will you have secured investment, or hired additional members of staff?
• Will you be able to cope if you fail to hit projected financial targets?

It's vital that all of these factors are assessed prior to launching or expanding a business. Research carried out by the Chartered Management Institute (CMI) has discovered that over half (54%) of all UK businesses that fail within the first three years of operation do so because of poor management.

Get to know your audience

You must have an understanding of your core demographic and how you are going to engage them. The more intelligence potential investors can get from reading the plan, the better.

Operations and organisation

It's good to have a solid concept, strong product and ambitious goals, but to grow a successful company, you will also need a detailed understanding of job roles, company structure and the day-to-day running of your operation.

This section of the plan is often the most detailed. Overlooking just one of the below areas could be extremely harmful when it comes to launching a company or seeking investment.

Areas to cover

• Location - where will you be based and why?
• Suppliers - who are they and what are the contract terms?
• Production - will anything be outsourced?
• Distribution - how will you deliver your product?
• Employees - how many do you need and what will they do?

Financial considerations

All aspects of your business plan are essential in their own right, but it's important to make sure the financial elements are accurate and in order.

Some entrepreneurs make the mistake of believing that because they are determined to succeed, they will be able to fund business growth by reinvesting the business' profits. However this rarely works, suppliers need to be paid prior to the customer getting their hands on the goods, meaning you will need some kind of initial investment or loan to cover supply costs.

• What kind of financing you need
• How much money you require
• Whether you are willing to give away equity in the business in return for funding
• When you will be able to pay back any loan you take out

How much, what for, and from where?

Always consider these three questions when planning your finances, and always be cautious in your answers.

Measuring success and risk

No business is guaranteed to succeed. Investors understand that handing any amount of money over to a startup is a risky decision, but it's important to reassure them. Highlight that you are aware of the risks, have plans in place to avoid pitfalls, and are willing to change course or adopt different methods should you need to.

Types of business risk

• Compliance  - If you fall foul of laws and regulations, your business could fail before it has a chance to properly grow.
• Operational  - Operational risk can come in many forms. It could relate to employee error or a water leak that damages equipment.
• Financial  - Nearly all businesses will get into debt in their opening years, but it is how that debt is managed that is important.
• Reputational  - Building customer confidence in your brand and rewarding them with a quality service is an essential ingredient for all businesses. 

Need a little more help?

You can find additional information and a range of business plan templates and examples on the www.gov.uk website.

Get your business idea off the ground

From the start, you’ll need to think about your approach to running your business and what support you might need to make it happen.

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4 Free Business Plan Templates: Where to find them and what you get

While some people argue about whether you need a business plan to be successful, you almost certainly will need one when opening bank accounts and seeking funding. Fortunately there are some good free business plan templates and advice online. Here we will review 4 of the best covering what you get and where to find them.

1)      Gov.uk – The ‘write a business plan’ page of the UK government’s website includes advice and a selection of different business plan templates so you can select which one is best for your business.

2)      The Prince’s Trust – Although The Prince’s Trust specialise in supporting young people their business plan template is available to anyone. At 16 pages it is substantially shorter than the one from Business Link and is less formal in tone. The Prince’s Trust plan also goes into more depth on the logistics of how the company is going to work and the reasons for starting it up.

3)      Microsoft Word – Microsoft have a start-up business template which you can download. When you open it up in word it runs to 28 pages and is full of questions, advice and points to consider. Compared to The Princes Trust and Business Link plans it is a lot more text heavy and takes some reading. It is also a lot more focussed on the financials of the company than the other two plans, concentrating on accounts payable, pricing and other financial planning considerations.

4)      Your Bank – One of the main reasons people do a business plan is because their bank asks them to. If this is your motivation then it makes sense to use a template your bank will like. Our business banking partners HSBC have a business plan tool, Natwest have an online form and Barclay’s offer plenty of advice . Many of the other main UK banks also have templates or advice online. Using the bank’s own forms should mean that you tick all of the boxes and answer all of the questions they are likely to be looking at which can only help make your meeting go more smoothly.

Whichever template you choose it is important that you invest the time to get your plan right before you try to use it. Most of these plans require you to do a considerable amount of research into your target market, customers and competitors. Don’t leave it until the night before your bank meeting to get it done!

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Simple Business Plan Templates

By Joe Weller | April 2, 2020

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In this article, we’ve compiled a variety of simple business plan templates, all of which are free to download in PDF, Word, and Excel formats.

On this page, you’ll find a one-page business plan template , a simple business plan for startups , a small-business plan template , a business plan outline , and more. We also include a business plan sample and the main components of a business plan to help get you started.

Simple Business Plan Template

Download Simple Business Plan Template

Word  |  PDF

This simple business plan template lays out each element of a traditional business plan to assist you as you build your own, and it provides space to add financing information for startups seeking funding. You can use and customize this simple business plan template to fit the needs for organizations of any size.

One-Page Business Plan Template

Download One-Page Business Plan Template

Excel  |  Word  |  PDF  | Smartsheet

Use this one-page business plan to document your key ideas in an organized manner. The template can help you create a high-level view of your business plan, and it provides easy scannability for stakeholders. You can use this one-page plan as a reference to build a more detailed blueprint for your business. 

For additional single page plans, take a look at " One-Page Business Plan Templates with a Quick How-To Guide ."

Simple Fill-in-the-Blank Business Plan Template

Download Simple Fill-in-the-Blank Business Plan Template

Use this fill-in-the-blank business plan template to guide you as you build your business plan. Each section comes pre-filled with sample content, with space to add customized verbiage relevant to your product or service.

For additional free, downloadable resources, visit " Free Fill-In-the-Blank Business Plan Templates ."

Simple Business Plan for Startup

‌  Download Startup Business Plan Template — Word

This business plan template is designed with a startup business in mind and contains the essential elements needed to convey key product or service details to investors and stakeholders. Keep all your information organized with this template, which provides space to include an executive summary, a company overview, competitive analysis, a marketing strategy, financial data, and more. For additional resources, visit " Free Startup Business Plan Templates and Examples ."

Simple Small-Business Plan Template

Download Simple Small-Business Plan Template

This template walks you through each component of a small-business plan, including the company background, the introduction of the management team, market analysis, product or service offerings, a financial plan, and more. This template also comes with a built-in table of contents to keep your plan in order, and it can be customized to fit your requirements.

Lean Business Plan Template

Download Lean Business Plan Template

This lean business plan template is a stripped-down version of a traditional business plan that provides only the most essential aspects. Briefly outline your company and industry overview, along with the problem you are solving, as well as your unique value proposition, target market, and key performance metrics. There is also room to list out a timeline of key activities.

Simple Business Plan Outline Template

Download Simple Business Plan Outline Template

Use this simple business plan outline as a basis to create your own business plan. This template contains 11 sections, including a title page and a table of contents, which details what each section should cover in a traditional business plan. Simplify or expand this outline to create the foundation for a business plan that fits your business needs.

Simple Business Planning Template with Timeline

Download Simple Business Planning Template with Timeline

Excel  | Smartsheet

This template doubles as a project plan and timeline to track progress as you develop your business plan. This business planning template enables you to break down your work into phases and provides room to add key tasks and dates for each activity. Easily fill in the cells according to the start and end dates to create a visual timeline, as well as to ensure your plan stays on track.

Simple Business Plan Rubric Template

Download Simple Business Plan Rubric

Once you complete your business plan, use this business plan rubric template to assess and score each component of your plan. This rubric helps you identify elements of your plan that meet or exceed requirements and pinpoint areas where you need to improve or further elaborate. This template is an invaluable tool to ensure your business plan clearly defines your goals, objectives, and plan of action in order to gain buy-in from potential investors, stakeholders, and partners.

Basic Business Plan Sample

Download Basic Business Plan Sample

This business plan sample serves as an example of a basic business plan that contains all the traditional components. The sample provides a model of what a business plan might look like for a fictional food truck business. Reference this sample as you develop your own business plan.

For additional resources to help support your business planning efforts, check out “ Free Strategic Planning Templates .”

Main Components of a Business Plan

The elements you include in your business plan will depend on your product or service offerings, as well as the size and needs of your business. 

Below are the components of a standard business plan and details you should include in each section:

• Company name and contact information
• Website address
• The name of the company or individual viewing the presentation
• Table of Contents
• Company background and purpose
• Mission and vision statement
• Management team introduction
• Core product and service offerings
• Target customers and segments
• Marketing plan
• Competitive analysis
• Unique value proposition
• Financial plan (and requirements, if applicable)
• Business and industry overview
• Historical timeline of your business
• Offerings and the problem they solve
• Current alternatives
• Competitive advantage
• Market size
• Target market segment(s)
• Projected volume and value of sales compared to competitors
• Differentiation from competitors
• Pricing strategy
• Marketing channels
• Promotional plan
• Distribution methods
• Legal structure of your business
• Names of founders, owners, advisors, etc.
• Management team’s roles, relevant experience, and compensation plan
• Staffing requirements and training plans
• Physical location(s) of your business
• Additional physical requirements (e.g., warehouse, specialized equipment, facilities, etc.)
• Production workflow
• Raw materials and sourcing methods
• Projected income statement
• Projected cash flow statement
• Projected balance sheet
• Break-even analysis
• Charts and graphs
• Market research and competitive analysis
• Information about your industry
• Information about your offerings
• Samples of marketing materials
• Other supporting materials

Tips for Creating a Business Plan

It’s easy to feel overwhelmed at the thought of putting together a business plan. Below, you’ll find top tips to help simplify the process as you develop your own plan. 

• Use a business plan template (you can choose from the variety above), or refer to the previous section to create a standard outline for your plan.
• Modify your outline to reflect the requirements of your specific business. If you use a standard business plan outline, remove sections that aren’t relevant to you or aren’t necessary to run your business.
• Gather all the information you currently have about your business first, and then use that information to fill out each section in your plan outline.
• Use your resources and conduct additional research to fill in the remaining gaps. (Note: It isn’t necessary to fill out your plan in order, but the executive summary needs to be completed last, as it summarizes the key points in your plan.)
• Ensure your plan clearly communicates the relationship between your marketing, sales, and financial objectives.
• Provide details in your plan that illustrate your strategic plan of action, looking forward three to five years.
• Revisit your plan regularly as strategies and objectives evolve.
• What product or service are we offering?
• Who is the product or service for?
• What problem does our product or service offering solve?
• How will we get the product or service to our target customers?
• Why is our product or service better than the alternatives?
• How can we outperform our competitors?
• What is our unique value proposition?
• When will things get done, and who is responsible for doing them?
• If you need to obtain funding, how will you use the funding?
• When are payments due, and when do payments come in?
• What is the ultimate purpose of your business?
• When do you expect to be profitable?

To identify which type of business plan you should write, and for more helpful tips, take a look at our guide to writing a simple business plan .

Benefits of Using a Business Plan Template

Creating a business plan can be very time-consuming, especially if you aren’t sure where to begin. Finding the right template for your business needs can be beneficial for a variety of reasons. 

Using a business plan template — instead of creating your plan from scratch — can benefit you in the following ways:

• Enables you to immediately write down your thoughts and ideas in an organized manner
• Provides structure to help outline your plan
• Saves time and valuable resources
• Helps ensure you don’t miss essential details

Limitations of a Business Plan Template

A business plan template can be convenient, but it has its drawbacks — especially if you use a template that doesn’t fit the specific needs of your business.

Below are some limitations of using a business plan template:

• Each business is unique and needs a business plan that reflects that. A template may not fit your needs.
• A template may restrict collaboration with other team members on different aspects of the plan’s development (sales, marketing, and accounting teams).
• Multiple files containing different versions of the plan may be stored in more than one place.
• You still have to manually create charts and graphs to add to the plan to support your strategy.
• Updates to the plan, spreadsheets, and supporting documents have to be made in multiple places (all documents may not update in real time as changes are made).

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When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

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Writing Your Business Plan

A business plan is a document that will not only help you to evaluate your business idea, but it will also provide you with focus and direction. It should set out what you want to achieve and how you intend to achieve it.

Download A Business Plan (Word) Template Here

Making A Request For Funding

If you have identified that you will need to borrow money to start your business, then a detailed business plan will be required and will play a vital role in making a successful application for finance. A lender or investor will want to see that you can pay back any loans or provide them with a return on their investment.

Do's and Dont's

• Do think about the audience for your business plan and write it accordingly.
• Don’t forget to update your business plan regularly. Business planning is not just for start-up businesses!

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Example business plans

Put together your business plan with our tips.

Where can I find an example of a business plan?

If you’re preparing to write your first business plan and are looking for some useful resources and advice on what elements to include you have come to the right page.

It is essential to have a realistic, working business plan when you’re starting up a business. We have our own section devoted to business planning where there are lots of articles and links to information on writing business plans . The content can show you how to prepare a high quality plan using a number of easy-to-follow steps but also contains more specialist information to help you really fine tune your document, plus advice on presentation and targeting.

If you are specifically looking for advice as a franchisee, check out our article on the 11 things you need to include in a franchise business plan .

There are a range of other sources you may also want to use. An often overlooked source is your Bank who may well have information, examples and templates of business plans:

• Barclays template and checklist [pdf]
• Lloyds sample plan [downloadable pdf – see section 4]

The Prince’s Trust offers downloadble pdf, MS Word and Excel templates . They also offer personal advice on completing a plan through their Enterprise programme if you are selected to work with them.

Slideshare has lots of business plans uploaded, which you can browse through here . We liked this thorough 26 page example from The Business Plan Team , as well as a template created by former Deloitte Management Consultants here , and a good example of a colourful, visual plan suitable for a trendy food business here .

An interesting interactive free business plan creator is offered by LawDepot . On the website you are stepped through 7 simple steps using a well-designed graphic interface, and at the end you can output the subsequent plan ready to fill in. There are 12 industries to choose from and it has sections for company structure, product, marketing, SWOT, operations and ‘Fine Details’.

Other Web Resources: Business Plan Templates

You can find examples of business plans for different types of businesses at:

• ACCA – the Association of Chartered Certified Accountants have 3 example business plans for three different business sectors: Cafe, Import Business, UK Ltd business seeking finance.
• Bplans – owned and operated by Palo Alto Software Inc., the site has free plans to download and it also has examples for lots of different types of individual or specific market sectors.
• Expert Hub – based in South Africa, this site has 21 example business plans for different categories.
• Start Up Loans – offer a downloadable .docx template.
• Invest Northern Ireland – have a .doc business plan template to download here
• StartUps.com – have four sample plans that you can access from Google Drive (note, this is a USA site so the examples are US-based, although the formats could still work for a UK business).
• Examples.com – 20+ example downloadable .pdf plans for different sectors.

Finally, how about a video on the subject? Quite a few examples on Youtube.

How about this one from Craig Frazier?

Further reading on business plans:

• Advice and the basic tips of writing a business plan
• A check list of what should be in your business plan

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Table of Contents

Why business plans are vital, get your free simple business plan template, how to write an effective business plan in 6 steps, frequently asked questions.

While taking many forms and serving many purposes, they all have one thing in common: business plans help you establish your goals and define the means for achieving them. Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might even uncover a few alternate routes to success.

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Whether you’re a first-time solopreneur or a seasoned business owner, the planning process challenges you to examine the costs and tasks involved in bringing a product or service to market. The process can also help you spot new income opportunities and hone in on the most profitable business models.

Though vital, business planning doesn’t have to be a chore. Business plans for lean startups and solopreneurs can simply outline the business concept, sales proposition, target customers and sketch out a plan of action to bring the product or service to market. However, if you’re seeking startup funding or partnership opportunities, you’ll need a write a business plan that details market research, operating costs and revenue forecasting. Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path.

Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Need help getting your ideas flowing? You’ll also find several startup scenario examples below.

Download free template as .docx

Whether you need a quick-launch overview or an in-depth plan for investors, any business plan should cover the six key elements outlined in our free template and explained below. The main difference in starting a small business versus an investor-funded business is the market research and operational and financial details needed to support the concept.

1. Your Mission or Vision

Start by declaring a “dream statement” for your business. You can call this your executive summary, vision statement or mission. Whatever the name, the first part of your business plan summarizes your idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers in the following sections of the simple business plan template.

• What does your business do? Are you selling products, services, information or a combination?
• Where does this happen? Will you conduct business online, in-store, via mobile means or in a specific location or environment?
• Who does your business benefit? Who is your target market and ideal customer for your concept?
• Why would potential customers care? What would make your ideal customers take notice of your business?
• How do your products and/or services outshine the competition? What would make your ideal customers choose you over a competitor?

These answers come easily if you have a solid concept for your business, but don’t worry if you get stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these answers and possibly new directions as you explore your ideas and options.

2. Offer and Value Proposition

This is where you detail your offer, such as selling products, providing services or both, and why anyone would care. That’s the value proposition. Specifically, you’ll expand on your answers to the first and fourth bullets from your mission/vision.

As you complete this section, you might find that exploring value propositions uncovers marketable business opportunities that you hadn’t yet considered. So spend some time brainstorming the possibilities in this section.

For example, a cottage baker startup specializing in gluten-free or keto-friendly products might be a value proposition that certain audiences care deeply about. Plus, you could expand on that value proposition by offering wedding and other special-occasion cakes that incorporate gluten-free, keto-friendly and traditional cake elements that all guests can enjoy.

3. Audience and Ideal Customer

Here is where you explore bullet point number three, who your business will benefit. Identifying your ideal customer and exploring a broader audience for your goods or services is essential in defining your sales and marketing strategies, plus it helps fine-tune what you offer.

There are many ways to research potential audiences, but a shortcut is to simply identify a problem that people have that your product or service can solve. If you start from the position of being a problem solver, it’s easy to define your audience and describe the wants and needs of your ideal customer for marketing efforts.

Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target audience that is health-conscious or possibly dealing with health issues and willing to spend more for hard-to-find items.

However, it’s essential to have a customer base that can support your business. You can be too specialized. For example, our baker startup can attract a broader audience and boost revenue by offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused specialties.

4. Revenue Streams, Sales Channels and Marketing

Thanks to our internet-driven economy, startups have many revenue opportunities and can connect with target audiences through various channels. Revenue streams and sales channels also serve as marketing vehicles, so you can cover all three in this section.

Revenue Streams

Revenue streams are the many ways you can make money in your business. In your plan template, list how you’ll make money upon launch, plus include ideas for future expansion. The income possibilities just might surprise you.

For example, our cottage baker startup might consider these revenue streams:

• Product sales : Online, pop-up shops , wholesale and (future) in-store sales
• Affiliate income : Monetize blog and social media posts with affiliate links
• Advertising income : Reserve website space for advertising
• E-book sales : (future) Publish recipe e-books targeting gluten-free and keto-friendly dessert niches
• Video income : (future) Monetize a YouTube channel featuring how-to videos for the gluten-free and keto-friendly dessert niches
• Webinars and online classes : (future) Monetize coaching-style webinars and online classes covering specialty baking tips and techniques
• Members-only content : (future) Monetize a members-only section of the website for specialty content to complement webinars and online classes
• Franchise : (future) Monetize a specialty cottage bakery concept and sell to franchise entrepreneurs

Sales Channels

Sales channels put your revenue streams into action. This section also answers the “where will this happen” question in the second bullet of your vision.

The product sales channels for our cottage bakery example can include:

• Mobile point-of-sale (POS) : A mobile platform such as Shopify or Square POS for managing in-person sales at local farmers’ markets, fairs and festivals
• E-commerce platform : An online store such as Shopify, Square or WooCommerce for online retail sales and wholesale sales orders
• Social media channels : Facebook, Instagram and Pinterest shoppable posts and pins for online sales via social media channels
• Brick-and-mortar location : For in-store sales , once the business has grown to a point that it can support a physical location

Channels that support other income streams might include:

• Affiliate income : Blog section on the e-commerce website and affiliate partner accounts
• Advertising income : Reserved advertising spaces on the e-commerce website
• E-book sales : Amazon e-book sales via Amazon Kindle Direct Publishing
• Video income : YouTube channel with ad monetization
• Webinars and online classes : Online class and webinar platforms that support member accounts, recordings and playback
• Members-only content : Password-protected website content using membership apps such as MemberPress

Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books, websites, blogs and videos serve as both marketing tools and income opportunities. Since most are free and those with advertising options are extremely economical, these are ideal marketing outlets for lean startups.

However, many businesses still find value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can include these advertising costs in your simple business plan template to help build a marketing plan and budget.

5. Structure, Suppliers and Operations

This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and responsibilities, supplier logistics and day-to-day operations. Also, include any certifications or permits needed to launch your enterprise in this section.

Our cottage baker example might use a structure and startup plan such as this:

• Business structure : Sole proprietorship with a “doing business as” (DBA) .
• Permits and certifications : County-issued food handling permit and state cottage food certification for home-based food production. Option, check into certified commercial kitchen rentals.
• Roles and responsibilities : Solopreneur, all roles and responsibilities with the owner.
• Supply chain : Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual membership costs. Uline for shipping supplies; no membership needed.
• Day-to-day operations : Source ingredients and bake three days per week to fulfill local and online orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship online orders on alternating days. Update website and create marketing and affiliate blog posts on non-shipping days.

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6. Financial Forecasts

Your final task is to list forecasted business startup and ongoing costs and profit projections in your simple business plan template. Thanks to free business tools such as Square and free marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of goods, shipping and packaging, business permits and printing for business cards are your only out-of-pocket expenses.

Cost Forecast

Our cottage baker’s forecasted lean startup costs might include:

Gross Profit Projections

This helps you determine the retail prices and sales volume required to keep your business running and, hopefully, earn income for yourself. Use product research to spot target retail prices for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier costs. The total amount is your gross profit per item or service.

Here are some examples of projected gross profits for our cottage baker:

Bottom Line

Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged down in planning that you never hit the start button to launch your business . Also, remember that business plans aren’t set in stone. Markets, audiences and technologies change, and so will your goals and means of achieving them. Think of your business plan as a living document and regularly revisit, expand and restructure it as market opportunities and business growth demand.

Is there a template for a business plan?

You can copy our free business plan template and fill in the blanks or customize it in Google Docs, Microsoft Word or another word processing app. This free business plan template includes the six key elements that any entrepreneur needs to consider when launching a new business.

What does a simple business plan include?

A simple business plan is a one- to two-page overview covering six key elements that any budding entrepreneur needs to consider when launching a startup. These include your vision or mission, product or service offering, target audience, revenue streams and sales channels, structure and operations, and financial forecasts.

How can I create a free business plan template?

Start with our free business plan template that covers the six essential elements of a startup. Once downloaded, you can edit this document in Google Docs or another word processing app and add new sections or subsections to your plan template to meet your specific business plan needs.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses. Her expertise includes eCommerce startups and growth, SMB operations and logistics, website platforms, payment systems, side-gig and affiliate income, and multichannel marketing. Krista holds a bachelor's degree in English from The University of Texas at Austin and held senior positions at NASA, a Fortune 100 company, and several online startups.

Free Business Plan Template for Small Businesses

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Why you need a business plan template

Writing a business plan can seem like a big task, especially if you’re starting a business for the first time and don’t have a financial background. After all, business plans have changed over the years, and what lenders and investors expect now is different than it was even just 10 years ago.

But using a business plan template will help you:

• Develop a strategy for success
• Reduce the risk of starting a business
• Explore new business ideas
• Attract investors and get funding

Learn more about how you can get value out of your business plan .

What is included in this free business plan template?

This template includes definitions, guidance, and examples for every business plan component needed to start, fund, and grow your business. Here are the sections covered in this template .

Executive summary

The brief summary of your business plan introduces everyone to your business, the problem you solve, and what you’re asking from your readers. It’s the first chapter of your business plan and the last thing you write once you have the details from your full plan.

• Company Purpose / Mission Statement : Briefly describe the business purpose or mission.
• Problem We Solve : Summarize the market need or problem addressed.
• Our Solution : Describe the product or service offered.
• Target Market : Identify the primary customer base.
• Team : Outline key team members.
• Financial Summary : Provide a brief overview of financial goals.
• Traction : Highlight initial sales or milestones.
• Funding Needed : Specify capital requirements if seeking funding.

Problem & solution

More than a simple description of your products and services – here you define the problem you’re solving and the value you provide. It’s also your chance to showcase any initial traction that shows you’re on the right track.

• Problem Worth Solving : Detailed description of the customer problem.
• Our Solution : Detailed description of the product or service.
• Traction : Evidence of market interest, such as sales or contracts.
• Intellectual Property/Patents : Outline any relevant IP or patents.
• Regulatory Requirements : Details on necessary government approvals.
• Future Products and Services : Potential future offerings.

Market analysis and target market

A detailed assessment of the market you intend to enter, including the size and value of the market, potential customer segments, and their buying patterns.

• Market Size & Segments : Define the size and characteristics of your target market.
• Market Trends : Consumer behavior and financial trends.
• Market Growth : Potential market size changes.
• Industry Analysis : Describe industry changes or trends.
• Key Customers : Identify any major customers.
• Future Markets : Potential market opportunities and strategy.

Competition

Show that you know who your competitors are, what advantages you have, and how you’re positioning your business to be competitive.

• Current Alternatives : Identify competitors in the market.
• Our Advantages : Describe strategic advantages over competitors.
• * Barriers to Entry (Optional): Discuss any barriers preventing new competition.

Marketing & sales

Describe how you’ll reach and sell to potential customers with a detailed sales plan and chosen marketing channels.

• Market Positioning : Define where your product or service fits in the market.
• Marketing Plan : Outline the strategy for reaching your target market.
• Sales Plan : Explain the sales strategy.
• Unique Value Proposition : What makes your offering unique.
• Pricing Strategy : Pricing compared to market alternatives.
• Distribution : How your product/service will reach customers.
• SWOT Analysis : Strengths, weaknesses, opportunities, and threats.

What makes your business run? Outline the day-to-day workflows and what needs to be set up for your business to deliver a product or service.

• Location & Facilities : Describe physical locations and facilities.
• Technology : Key technology crucial for the business.
• Equipment & Tools : Special equipment or tools required.
• Sourcing and Fulfillment : Description of sourcing and supply chain.
• Partners and Resources : Key partners and their contributions.

Milestones & metrics

Set goals for your business that include the dates and people responsible for accomplishing them. This is what you’ll use to manage responsibilities, track growth, and execute your larger strategy.

• Milestones : Specific goals and objectives with a timeline.
• Key Metrics : Performance indicators to gauge business health.

Company overview and team

Provide a brief rundown of the legal and structural components of your company, including your history, current team, and gaps you need to fill.

• Organizational Structure : Overview of the legal structure.
• Company History and Ownership : Brief history and ownership details.
• Management Team : Key team members and their qualifications.
• Management Team Gaps : Key positions needed for success.

Financial plan

Create well-structured and accurate financial statements to help you pitch to investors, land funding, and achieve long-term success. All without the help of a financial advisor or a degree in accounting.

• Projected Profit and Loss : Expected revenue, costs, and profitability.
• Projected Cash Flow : Cash inflows, outflows, and overall position.
• Projected Balance Sheet : Expected assets, liabilities, and equity balances.
• Use of Funds : Allocation of funds if raising capital.
• Exit Strategy : Plan for eventual business exit.

While not required, this last section of your business plan is a great place to drop in additional documents that support and strengthen the rest of your plan.

How do you write a simple business plan?

If you’re exploring a business idea and don’t plan to pursue funding, then you actually don’t need to write a traditional business plan. Instead, opt for a one-page plan , which is far easier to create but just as effective.

To write a simple one-page business plan, follow the same core sections as a traditional plan. But instead of lengthy paragraphs and multiple pages covering each area of your business, stick with single sentences and bulleted lists.

If a one-page plan sounds like a better option, download our free simple one-page business plan template to get started.

Start your business plan today

Whether you're writing a business plan to validate your business idea, secure funding, or grow your existing business – our free business plan template will help you achieve your goals.

Business plan template FAQ

What file formats are available for this business plan template?

Our free template is available to download in a number of common file formats including Google Docs, Microsoft Word (doc.x), or as a free business plan PDF .

Can you print out this template for a business plan?

This is a printable template—no matter if you download it as a pdf or word document, or access via Google Docs. The template is pre-formatted and structured to fit lender and investor standards, but can be edited and adjusted to suite your needs before printing. Just be aware that any changes may unintentionally break the template, so make sure to review before printing.

Why should I start with a business plan template?

You should start with a good business plan template (like this one) to avoid having to make guesses about what to include in your business plan and how to structure the document. This template helps you organize your thoughts, and provides guidance, instructions, and examples to create an investor-ready and SBA-approved business plan format. It really speeds up the planning process. Oh, and it's 100% free!

Can I write a business plan myself?

You can absolutely write a business plan by yourself. Millions of entrepreneurs have been in your exact situation and have been able to write complete, detailed, and useful business plans. By using a template, you can speed up the writing process, avoid costly mistakes, and write your business plan without having to pay for additional support.

What are the steps to write a business plan?

The steps to write a business plan include:

• Defining the opportunity: Explain the problem your business solves, the solution you offer, your target market, and the competitive landscape.
• Describing how you'll execute: Outline your marketing and sales strategies, operational plan, milestones, and success metrics.
• Adding company details: Provide information about your business structure, ownership, and team.
• Creating a financial plan and forecasts: Include detailed financial statements, forecasts, and funding requirements.
• Adding supplementary info to your appendix: Add any additional information, such as resumes, permits, and other relevant documents.
• Summarizing your plan: While it may be first, do your executive summary last. In it, you'll briefly summarize your business, highlighting key points such as mission, product/service, and basic financial information.

For additional information, check out our full step-by-step guide to write a business plan .

How many hours does it take to write a business plan?

It can take as little as 30-minutes to write a fully functioning business plan. However, if you need to create a more detailed business plan it can take multiple hours to actually write the full document. To save yourself time, be sure to pick an appropriate plan type for your intended use case. Additionally, do any necessary research and collect your notes and other documentation beforehand so that you can focus all your effort on writing your business plan.

How can I write a simple business plan?

To write a simple business plan it's best to use a one-page business plan format. A one-page business plan includes all of the same components as a more detailed business plan but is designed to fit on a single page—making it more useful as an internal planning tool. If you still want to use a traditional business plan template, just focus on using bulleted lists and short sentences while writing to create a simpler business plan.

Is writing a business plan easy?

Writing a business plan can be easy if you use the right tools, understand your business, and come in prepared to write your business plan. Using a template can make writing a business plan easier. Additionally, if you focus on just getting your information down quickly, with the expectation that you'll revisit and revise your plan, you can speed up and simplify the process .

Can someone else write my business plan for me?

Yes, you can hire a professional business plan writer to write your business plan for you. Working with a professional can be especially useful if you're still struggling to write your business plan even when using a template for your business plan. Just be prepared to talk about your business, provide the appropriate details, and review the finished plan to be sure it actually reflects your business. If you need help vetting professional business plan writers, check out our free resource to help you ask just the right questions  of potential plan writers.

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