As the architect of your business, it’s up to you to draw up the plans. Writing up a business plan is an objective way to see if all the elements are there to ensure the success of your project.
Being in business means also being part of a team. You’ll need the support of lenders, partners, government workers and suppliers. Your business plan will allow you to give each one a precise idea of how you see it all coming together.
Before meeting your Caisse populaire advisor, be sure to document your project and write up your business plan. You’ll also need to see the législation relative au démarrage d’une entreprise.
Business plan writing tool
Canada Business’s Interactive Business Planner (IBP) is tailored to various regions and specific industries. The IBP can be used to write up a 3-year business plan for both new and existing businesses. It includes several business plan models and explanations of financial and technical terms. Registration is free.
Produce your financial statements
Your business plan will include your new company’s projected financial statements. These must reflect the plans you have for your business. You can use the IBP for this, as it automatically makes financial projections based on the data provided.
You’ll need to prepare the following documents:
- Your personal balance sheet.
- Your resume.
- Project costs and financing.
- Opening balance sheet.
- Two-year projected cash flow budget.
- Projected profit and loss statements for 3 years according to various scenarios.
- Three-year forecasted balance sheet.
- Break-even analysis.