| Starting up your own business can be a very | | | | even up to 5 years. |
| attractive and exciting thing to do. However, the setting | | | | If you are starting up a business you will more or less |
| up and running of a business is also a very challenging | | | | need starting up capital and loans to help your business |
| thing to do. It requires lots of commitment, persistence, | | | | get off the ground. Raising capital will be essential for |
| organisation and planning. It also involves finding a | | | | paying rent, buying office equipment and stock. Unless |
| market that will make you money and finding enough | | | | you have a very rich and generous relative the only |
| capital to get your business set-up and ready to go. | | | | place that you are going to get the capital you need |
| After you have done your market research into finding | | | | will be from the banks. Your business plan primary aim |
| a potentially profitable market you need to come up | | | | is to convince the banks that you have a viable |
| with a business plan. A business plan sets out a road | | | | business to lend you the money to start it up. |
| map of what your business is about, what it will | | | | When using a business plan to raise money from |
| achieve how it will achieve it and when. Therefore, the | | | | banks you need to ensure that it is comprehensive |
| plan will include your business aims and objectives, the | | | | and well researched. Not only will they be looking at |
| resources that will be needed to achieve these | | | | whether the market you are entering is a viable one |
| objectives and evidence that these objectives are | | | | they will also be interested at looking at the financial |
| achievable. Depending of the situation a business plan | | | | side and your future capability of the business paying |
| can outline the business objectives based on a year or | | | | back the money that will be lent. |