Business
Simplified
Plan
Guide
Completing a Business Plan Guide. This guide is to assist you in completing a business plan,
especially if you have never written one before. The guide is jargon free, easy to follow, with hints
and tips to refer to. Make use of the links on the document to direct you to the places you need to
include the related materials and details. If you still require further assistance completing your
business plan. Please use our online chat system to book an appointment with one of our business
advisors. Alternatively email startup@elevationnetworks.org. Book business plan support.
Essentials of a Business Plan
Essential Elements
Area of Focus
Executive Summary
This is section is all about summary:

Summarise your business idea

What you want to achieve

Why this business idea (what gap in the market did you spot and how is your business
helping the gap in the market)

Why this business sector
This section is all about you and any business partners

State in detail what qualification or experiences you have to run the business

Ensure that if requested you can provide references and evidence (Certificates) to
back-up the experience you have

Any trainings that you have gone to support you to run the business

Any experiences, projects, volunteer work that can support you to show you can run
the business to a success

Attach your CV and any business partners that will be running the business with you
This section is showing that you understand the regulations relating to your business

Do need any licences to run the businesses

Any regulations you need to comply with before running the business

List any applicable licences for your business. The ones you have and the ones you still
need to get

Click here for a list on GOV.UK
This is where you describe in detail your product/service.

You need to give as much detail as you can.

Feel free to include pictures, portfolios (use we transfer it or dropbox if files too large)

You need to give us as much detail and a clear understanding of what your product is.

What product/service are you offering?

How will it be delivered?

What is the pricing model?

Why have you chosen the pricing model?

How will you capture the right customers who will pay that price?

What is your added value (USP)?
This section is all about your customers (target market)

Your customers come first

Do you know who you are targeting?
What is the age group? What is the gender? What is the class (Middle class,
professionals, students, etc)

Who will be using your products/services?

What research did you do to identify the target market?

Did you carry out primary or secondary research, show evidence?
This section is to show that you understand the market you are going into. Primary and or
Click here to complete this
section
Entrepreneur Qualifications
Click here to complete this
section
Regulatory Requirements
Click here to complete this
section
Description of Product / Service
Click here to complete this
section
Customer Analysis
Click here to complete this
section
Market Research
Click here to complete this
section
secondary research.




Have you done any market testing? What did you find out? Did you keep a record of
data (invoices, receipts, statistics, surveys, testimonials, etc)?
Have you sold anything? Any large or small orders made?
Have you identified a supplier? Is there any agreement in place with the supplier? IS
there a minimum order quantity?
Did you carry out any surveys to support your business? Any statistics you found?
Marketing Strategy
Click here to complete this
section
Competitor Analysis
Click here to complete this
section
Key Risks & Mitigants
Click here to complete this
section
Existing Businesses
Financial Analysis
This needs to be comprehensive. This is how you get your customers. So marketing needs to
be effective.

What methods are you going to use to reach your customers?

What type of promotions will you use?

What types of marketing tools?

Online and offline

Which marketing channels?

On average how many customers per month? How much on average will each
customer spend per visit if each customer visits once?

How much will it cost to use a type of marketing channel? Example; how much will it
cost to use Google Ad Words or Facebook Ads, etc?
Analysis of key competitors

Every business has a competitor

Your competitors are anyone that can take customers away from you, because they
are making you lose money

List at least 4 or more competitors

Don’t focus on only large competitors, look at the local competitors also

What type of services/products does your competitor offer?

What are your competitors charging for their products/services?

Are there any barriers to entry (anything that makes it difficult to enter the market)?
Risks are anything that will stop the business from trading.

What are the supply risks; anything that means you won’t be able to get the products
to sell or premises to run your services

Are there any licences or regulations you need you haven’t got yet?

Is there a lack of personnel?

Are the laws/polices of government changing that can affect you?

Any personal issues that can affect the business?
If you have been trading for over 12months, you are not eligible for the start-up loan

If you have been trading less than 12months, you will need to show evidence of sales

Do you have invoices/receipts to show evidence of this

You will need to submit a historical cash flow
Confirmed company hasn't been trading for >12mths
If you have not started trading, you will be making a lot of assumptions here

Make sure revenue is conservative. Most start-ups don’t make profit until year two.

Your first three months should be conservative

Make sure you are able to justify all assumptions

Sales/revenue is what you make without taking account of expenses

Profit is what you make after expenses and tax paid if required

Give quotes for all expenses if you can (quotes for website development, leaflets,
purchases of anything, etc)

State all assumptions made in the cash flow template we have

State underlying assumptions (Revenue & Costs) - are they realistic / are all costs
included?
Personal Survival Budget

Complete a personal survival budget

This is looking at your current income and expenses as at the date you are completing
the PSB
Table of Contents
Executive Summary................................................................................................................................. 4
Entrepreneur Qualifications.................................................................................................................... 5
Regulatory Requirements ....................................................................................................................... 5
The Product/Service................................................................................................................................ 6
Customer Analysis (Target Market) ........................................................................................................ 8
Market Research ..................................................................................................................................... 9
Marketing Strategy ................................................................................................................................. 9
Marketing Plan ...................................................................................................................................... 11
Competitor Analysis .............................................................................................................................. 12
SWOT (Risks and Mitigants) .................................................................................................................. 13
Cash Flow & Financials .......................................................................................................................... 14
Executive Summary
Please refer to the guide should you need any assistance on this. Guide for Executive Summary.
This section should ideally be a page or 5 paragraphs.
Entrepreneur Qualifications
Please attach your CV along with this section when submitting your application and scan any
applicable certificates to support your application. See Business Plan Guide for help!
Regulatory Requirements
Please state any regulatory requirements you have met or yet to meet. Please see Business Plan
Guide for help!
The Product/Service
See the Business Plan Guide for full help on this section.
Customer Analysis (Target Market)
Customer Analysis Table
Sections
Gender
Age Groups
Status/Class (Middle class,
professionals, students,
Luxury/High-end, parents, etc)
What their tastes are like?
How much they spend on
average?
How much they earn?
What influences them?
What helps them makes
decisions
Do they have access to
substitute products?
Example, substitute to sugar is
sweetener or honey
Any data statistics on your
customers?
Any other information
Details
Market Research
Did you conduct any surveys? Did you do some research online? Business Guide Help!
Marketing Strategy
The below table is to assist you and for you to adapt to your business marketing strategy
Online
Details
Social Media (Facebook, Pinterest, Instagram,
Twitter, etc)
Website
Third party sites (Ebay, Amazon, Etsy, ASOS
Marketplace, Vinted, Gumtree, etc)
Bloggers
SEO (Search Engine Optimisation)
PPP (Pay Per Click)
Google Ad-Words
Any other comments
Offline
Leaflets/Flyers/Posters
Local newspaper advertising
Local published materials
Distributors
Stockists
Premises
Market stalls
Direct marketing
Word-of-mouth
Any other comments
Details
Marketing Plan
It is important to have a marketing calendar/Plan. A Gantt chart is a great way to plan ahead for 6months marketing. Try to see if any public holidays or
widely accepted social activities can coincide with your marketing plan. Month numbers have been used as we cannot predict your business launch
month. Feel free to adjust.
Month 1
Social Media push
Website development
Print Flyers
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Competitor Analysis
Use below table to assist you on this. See Business Plan Guide for help!
Competitor
Names
Competitor 1
Competitor 2
My Business
Price Information
Service/Product information
SWOT (Risks and Mitigants)
See Business Plan Guide for support
Strengths
Weaknesses
Opportunities
Threats
Use this box to complete any additional information…
Cash Flow & Financials
Use this section to state all assumptions. Click here for the Cash Flow Template. Attach any screen
shots for quotes to support your application and any other supporting evidence. See Business Plan
Guide for help!