Accrington Web - View Single Post

pendy · 02-11-2004, 14:06

No bank will lend you any money unless you have a proper business plan. Sad, but true. A good idea isn't enough.

What you need to set out is: What you are aiming to do. What market you are aiming at (and convince them that there is a market). Where/how you will operate. Whether you will be a sole trader, or will need/intend to employ staff. If so, how many and at what cost. What are your start up costs? - do you need equipment? If so, what, how much? How much of your own money are you putting in (tricky one, that, believe me!). How much do you want to borrow. How/when are you going to repay it.

All that said, best of luck!!

02-11-2004, 14:06	#11
pendy Resting in peace Join Date: Aug 2004 Location: London/Oswaldtwistle Posts: 1,123 Liked: 0 times Rep Power: 908	Re: startin a new business... No bank will lend you any money unless you have a proper business plan. Sad, but true. A good idea isn't enough. What you need to set out is: What you are aiming to do. What market you are aiming at (and convince them that there is a market). Where/how you will operate. Whether you will be a sole trader, or will need/intend to employ staff. If so, how many and at what cost. What are your start up costs? - do you need equipment? If so, what, how much? How much of your own money are you putting in (tricky one, that, believe me!). How much do you want to borrow. How/when are you going to repay it. All that said, best of luck!!