Why do you need a business plan?
All banks will expect at least a basic business plan to allow them to consider a loan application – most will want this to be professional and comprehensive. Any investor will also want to see your vision for the future of your business and the ways that their money will be spent. If you want to sell your business, your plan will be an invaluable tool.
A business plan also gives you a blueprint for your future actions. You can use it to compare your actual and expected goals and make changes to fix any discrepancies that may occur along the way.
In short – your business plans is probably the most important document you will produce during the early days of your business planning.