Business Plan Template for Micro-Enterprise

The Business Plan is useful to:

• Communicate your intentions for the business
• Raise finance / grants
• Act as a tool against which future performance can be assessed

Charactistics of a good Business Plan

• Write it yourself
• Be realistic
• Be comprehensive
• Clarity is vital

Suggested content of Business Plan for Micro Enterprise

(1) Description of Business Proposal

• What business are you setting up and what market do you intend servicing?

(2) Promoters Backgound

• Qualifications
• Work Experience
• Current Status

(3) Operational Plan

• Describe the product / service to be supplied.
• Describe the process (in general terms) and raw materials required.
• Where will you operate the business from and will it be leased / purchased?
• Has planning permission for the operation of your business been obtained?
• What is the cost of producing your product / services?

(4) Marketing

Detail the following:

• Any market research findings (formal or informal).
• What market sector are you targeting?
• What potential customers you approached and the feedback attained. Did you get any orders?
• What is the competition and where is it based - how will it respond to you entering the market?
• What is unique about your product / services? Why will customers purchase it?
• What is the pricing structure? Will you be VAT registered?
• Customer Base
  • Can you identify your potential customers or a typical profile of them?
  • How much are you going to sell to your top 6 customers in the first year?
  • How do you expect sales to grow in years 2 and 3?

(5) Finance RequiredWhat investment is required to set up the business?

• List any equipment and building costs. Is the equipment new or second-hand?
• How much of your own funds are you investing in the business?
• How much will you need to borrow?
• What amount of grant can you realistically seek?

(6) Financial Projections

• Include a cash flow forecast for the first two years of operation in the case of a start up business.
• Existing businesses should prepare a two year cash flow forecast and include historical financial statements.