Business plans for banks

[peterjhale]

Although your business plan is really for yourself - first and foremost - many businesses will need to go to their bank.

The best piece of advice is to discuss with your bank first what they require from you from your plan.

Finances will be very important but find out what they are looking for. Generally it will be

- sales
- cost of sales
- other indirect costs

> month by month for the first 12 months
> then the next 2 years on an annual basis

You will be required to produce :

- cashflow
- P&L
- balance sheet

but talk with your bank first

Peter

[theplanner]

Again, really discuss with your bank about your business idea

don't take no for an answer

If they do, find out why they refused (it might be that you simply asked for too much and they may lend, but a lower amount)

ThePlanner

[peterjhale]

yes - never take no for an answer - find out why you have been refused - the answer may surprise you