Essential Steps for Business Plan Development and Funding
The Business Plan Fundamentals
A business plan is a document that clearly and concisely defines the business idea you want to undertake.
Business Plan Objectives
- Internally: Facilitate the establishment of viable business objectives, check the consistency of the project, and evaluate it as it is being implemented.
- Externally: Facilitate obtaining grants and funding, once presented to entities and institutions such as banks and public administration, or for membership recruitment.
Recommendations for Preparing the Business Plan
- Base the plan on recent data.
- Consider all relevant aspects.
- Be realistic.
- Ensure it is clear and understandable.
- Keep the presentation brief and direct.
- Ensure it is free of grammatical errors.
- Maintain flexibility.
Agencies Supporting Entrepreneurs
Institutional and Corporate Support
Public Administration Support
- State (Central Administration): Offers design and development of legal regulations, grants, and advice to entrepreneurs.
- Autonomous Government: Offers business incubators, business service centers, programs, and information on access to grants and subsidies.
- Local Council: Provides support similar to the autonomous government.
Other Support Organizations
- Confederations and Associations: Provide training courses, simulators, management support, and assistance for developing the business plan.
- Chambers of Commerce: Offer tools to support young companies, tax manuals, profitability analysis, and access to the single business window.
Business Incubators
Incubators are spaces intended to accommodate new business initiatives to facilitate their viability in the first months of launch.
Services Provided by Incubators
- Offices and warehouses equipped with basic furniture and air conditioning.
- Telephone, fax, and copier services.
- Access to the use of computers, printers, and scanners.
- Internet service, e-mail, and website hosting.
- Local cleaning services.
- Technical and administrative staff support.
- Monitoring and individual counseling.
- Services to promote the initiative.
Starting Your Business Plan
Defining the Core Business Idea
Any business plan must begin with a brief description of the core business idea. We must ask the following key questions:
- What will be the business of the company?
- What is this business?
- Are there similar businesses nearby?
- What is the difference between this business and others?
- What purpose does the company aim to achieve?
- What will be the total investment?
- What name will the business have?