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Do I really need a business plan?

Posted by: Carly

Posted date: 08/09/2006 20:29:52

I'm trying to get £30,000 from my bank to get my cafe business off the ground. They're insisting that I send them my business plan but I'm not convinced that they really need one. Has anyone had first hand dealings with a bank who will lend without showing them a business plan?

RE: Do I really need a business plan?

Posted by: mark

Posted date: 04/01/2007 10:03:23

Carly,

You will find it almost impossible to get a bank to back your business without a business plan. I am sure you actually already have one in your head (at least big picture).

Mark

RE: Do I really need a business plan?

Posted by: Malcolm

Posted date: 05/05/2007 15:12:07

It can appear very tiresome when a bank official requests a business plan, however as one bank manager told me some time ago "you have a much better idea of your business than I do"!!

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