A business plan is a decision-making tool.
A business plan or business model canvas (BMC) is one of the most important steps when starting a business. It is also important for an existing business when expanding into new products and/or new markets. A business plan is required if you intend to seek a loan – and even if you don’t, it’s an essential exercise to complete in order to establish a foundation for success. Crafting a business plan or BMC makes you think through all the important details that you might not otherwise consider. It becomes a road map for your business that you will revisit and update often.
The team at FCEDC can walk you through how to create a business plan or BMC, review your plan, help you with creating the financial projections and show you resources to gather research data for the market-industry analysis component. There are also great business-building templates, guides, tools, and links located in our resource section below.