Creating Your Business Plan Infographic

As a small business in Canada, your business plan is a critical tool which acts as a guide to the success of your business. This makes it the first step you should take when starting a small business.

While most people thing a business plan is just a document you need to put down all of your business ideas, it’s actually much more involved. In fact, here are four of the major reasons why creating a business plan is critical:

• Create a business plan when starting your small business
• Use your business plan as a managing guide
• Follow your business plan and plan for growth and expansion of the business
• Use it to find private and government funding for your business

Starting a Business

Your business plan acts as a guide towards starting your small business.

With a properly developed business plan, you’ve tested the viability of your business on paper. Outlining the critical components helps you successfully plan your business startup.

Managing Your Business

With a proper business plan you and your team have the same vision.

Your business plan is a guideline to the success of your small business. As you build your business plan you place your vision in writing, which at a later point is the path you follow as you build.

Growing Your Business

Making a plan to grow and expand your business; treat it like a startup, have a plan!

When growing your small business, your business plan becomes very important. Just as when you were starting up, following a path with a business plan will ensure your growth and success.

Finding Business Funding

Use your business plan to find private funding or Canadian government funding programs

Canadian government funding programs are available (grants, loans, tax breaks), as well private investors. To take advantage of the available funding, your business plan is the 1st step.