Writing a Business Plan

Developing a business plan is a critical step for both new and existing businesses. Not only will developing a plan improve changes for business success, it can also serve as a communication tool for potential lenders in obtaining financing for the business. In addition, a business plan can serve as a management tool and guide for business growth.

The process of developing a business plan is as important as the end result. Going through the business planning process allows the business owner to examine issues such as the market, industry dynamics, and financial feasibility. The business plan is not a static document. Rather, it is dynamic and will change as the business grows and changes.

The ASBDC offers a variety of types of assistance to new and existing business owners that are developing a business plan.

Action Steps for Writing a Business Plan

The thought of writing a business plan can seem overwhelming. For those who are writing a business plan, the ASBDC offers suggested Action Steps for Writing a Business Plan. These steps are intended to help guide you through the process and point you towards suggested information and tools.

• Action Steps for Writing a Business Plan

Training

In addition to offering live classes, the ASBDC offers several online training programs that can be very helpful in the business planning process. Online programs of interest to those writing a business plan include: Crafting A Business Plan, Market Insight and Research, Pricing Strategy and Tactics, Marketing 101, Understanding Advertising and Promotions, Creating Financial Projections.

• Crafting a Business Plan online course

• Business Planning Training Calendar

Articles, Information, and Tools

The ASBDC offers helpful information and tools to those who are in the process of writing a business plan. A great deal of information is available online.

• Articles, Information, and Tools for Writing a Business Plan

Frequently Asked Questions

The ASBDC provides answers to common questions often asked by those writing a business plan.

• Frequently Asked Questions

Answers to Business Planning Questions

Arkansas residents who need additional assistance in answering questions about writing a business plan, contact your local SBDC office.

• SBDC office locations

The Arkansas Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran’s status, or disability.