Be sure to modify your information depending on your target audience.
For example, your bank will be interested in how you intend to repay the loan or overdraft, what you intend to do with the money and how it will help your business grow.
There's no one guaranteed formula for writing an effective business plan.
However, in general you have to show that you're committed to your venture and that you have the expertise, skills and necessary to make it all happen. Include a description of exactly what you're proposing.
Basically, your market research helps you understand your customer needs so that you can offer a product or service that precisely fits those needs.
You'll need to provide information such as your target market, customer demographics, competition and distribution methods.
You should include information on how you plan to recruit and maintain your employees or handle outsourced work.
Do an assessment of the company's needs with regard to premises and capital goods (such as machinery, technological equipment).
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. Get detailed information about how to write a business plan on the Start Up Donut website.