Preparing For Your Business Grant: The Importance of A Good Business Plan

Before you apply for a business grant, you need to make sure your business plan is in order!

A business plan is more than just an overview of your idea – it needs to be concise, detailed and should carry through to at least the first 18 months of operation.  

What is a good business plan?
A good business plan should provide a complete, detailed explanation of your business, your marketing plan, a comprehe

nsive budget, and bios of the founders and other key personnel, and most importantly – a financial forecast for the profitability of your new venture.

As part of the marketing strategy, you will need to be able to accurately describe the market for your product or service, projected price points, potential or existing competition, and your expected revenues for at least the first 18 months, and preferably, the first 36 months.