How do I write a small business plan?

A small business plan helps you organise your ideas so you can make good decisions from the beginning. It does not need to be long or complicated. It just needs to clearly explain your idea and show that you understand your customers, your costs, and your pathway to revenue.

1. Start with the basics

Describe the business in simple terms. What do you offer, who is it for, and what problem do you solve? Even a few clear paragraphs make a big difference.

2. Identify your target customers

Think about who will buy from you. What age group, what location, what needs do they have, and why would they choose your business? The clearer you are about your customers, the easier it is to market to them.

3. Review your competitors

Every business has competition. List the main competitors and note their strengths and weaknesses. This helps you identify your point of difference, whether it is pricing, service, convenience, or something unique.

4. Describe your products or services

Explain what you will sell, how it works, what benefits it gives, and how you will price it. This is where you show that your offering matches your target customers.

5. Outline your day to day operations

This covers how the business will actually run. Write down your opening hours, staffing needs, equipment, suppliers, booking systems, or any licences you need. A simple operations plan helps you stay organised.

6. Estimate your financials

Even a basic plan needs simple financial estimates. Think about your startup costs, monthly expenses, expected revenue, and how long it will take to start making a profit. This helps you understand your cash flow and avoid surprises.

7. Set a few practical goals

Set short term goals such as monthly sales targets, customer numbers, or marketing actions. This gives you direction and helps track progress.

A small business plan is a helpful tool, especially if you are applying for a loan or grant.
If you need a bank ready plan or want help preparing financial forecasts, EYB Consulting can support you through the entire process.