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Planning a business

Assessing your readiness, choosing a business structure, market research and writing a business plan.

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Developing your business idea.

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Writing a business plan

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Download templates and examples of a business plan and financial plan

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  • Need a business plan?

Invest in the future of your business by taking the time to create or update your business plan using our free template .

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The importance of your business plan

Perhaps the most important document for any new business is a business plan. Yet too many business owners fail to sit down and prepare or update one.

A business without a plan is adrift. Decisions are made reactively based on the owner’s emotions, rather than prudent research. Employees, vendors, investors and other stakeholders (as well as the owner) are unclear about the direction of the company. That lack of focus results in wasted dollars, energies and resources as the company zigzags along instead of following a well-planned straight line to its goals.

Writing a business plan can seem a daunting task. Many entrepreneurs simply don’t have the time, inclination or the proper tools.

Business planning template

We have developed a template that makes creating your Business Plan easy. And it’s free!

This template guides you through all of the steps required to complete a proper business plan. It has explanations of the terms and definitions. It lets you add your own thoughts and comments.

Once you’ve completed the steps, you’ll have a business plan complete with cover page, contact information, financial tables, product descriptions and marketing details. You can save and print the plan, or send it electronically to anyone.

Use your plan to move your business forward with confidence, to motive your team, or to present to investors or lenders.

Depending on how much research and preparation you’ve already completed, creating your plan won’t consume much time at all. While it’s very easy, don’t worry if you get stuck because help is available throughout the process.

Take your plan to the bank

Once you’ve completed your business plan, you may take it to a Scotiabank  Small Business Advisor . The advisor can review your plan, supply feedback, and, if requested, help you to explore your financing options.

Get feedback on your plan

Asking people to review your plan will make it stronger because you’ll receive valuable feedback. Share it with your accountant, lawyer, financial advisor and trusted businesspeople so they can offer their suggestions to improve your plan. If you are really worried about someone reading your secrets, consider attaching a Non-Disclosure Agreement (NDA) to the plan. An NDA is a legal document that prevents others from sharing your information with unauthorized parties.

Before you take action on any of the information above, we recommend consulting with a qualified business advisor that understands your unique needs and situation for your specific business and/or personal plans.

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Create a business plan

Explore the ways tailored advice from TD can help your business, today.

Starting a Business in Canada

Starting a business can be a challenging and rewarding endeavour. With the right planning, resources, and groundwork you'll enjoy a better chance of success.

Find out if your business idea will work

Clarify your idea and get it in writing

Find the money and manage your cashflow

Think about the legal stuff

TD Business Accounts, lines of credit, and more

Write a Business Plan

small business plan template canada

Clarify your idea and get it in writing.

There's a lot of work involved in  writing a business plan  but it prepares you for the even bigger task of starting a business.

It will help refine your idea, outline goals, and make it easier to explain what you hope to accomplish. This comes in handy when you're looking for money.

Download our business plan template  which addresses product and service information, competitive analyses, the financial feasibility of starting up, and more.

Why You Need a Plan

small business plan template canada

If you're pitching your idea to banks or other financial institutions for a loan, you'll need a  business plan  because people want to see that you've put serious thought into your idea.

Thinking about the details will help you make decisions about your business, and will open you up to new ideas or approaches you might not have considered.

Writing out a business plan will give you an action plan to work with, but if you need help getting started  use our interactive checklist .

Why You Need a Unique Selling Point

small business plan template canada

One of the most important aspects to consider when writing your business plan is asking  why customers would buy your product or service .

Will it be better quality? Better price? Is it backed by a guarantee? Will it have more features? Will you be able to provide outstanding customer service?

Once you establish what differentiates you from the competition, it's essential to communicate it consistently when you go to market.

Use our interactive checklist  to define your unique selling point.

Determine Demand & Profit Potential

small business plan template canada

Once you know (or are reasonably sure) that customers are likely to buy your product or service, figure out if you'll be able to make a profit.

Determine what you need in sales to cover costs plus a profit margin. Also ensure you have capacity - the physical ability to work a certain number of hours in a week or produce the required amount of product.

Use our interactive checklist  for more ideas on determining demand and profit including ways to research, test marketing, and future trends.

Tools & Calculators

Download our business plan template.

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Determine your monthly interest and payments.

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Articles on Starting Your Business

Four Steps to Find Out if Your New Idea Will Work

Four Steps to Find Out if Your New Idea Will Work

Research, validate, talk to industry insiders, and test your idea to ensure it has what it takes to succeed.

Selling Online and Other Ways to Expand Your Business

Selling Online and Other Ways to Expand Your Business

Marketplaces, subscription models, drop-shipping, and freemium offers are four ways to expand your business online.

Sources of Small Business Funding

Sources of Small Business Funding

Ways to fund your business include: self-financing, partnering with another business, angel investors, grants.

Breaking Barriers — A series on women entrepreneurs

Breaking Barriers — A series on women entrepreneurs

Get inspired with our first article in a series highlighting successful women entrepreneurs who have overcome challenges to build successful businesses.

Breaking barriers — Spotlighting female entrepreneurs

Breaking barriers — Spotlighting female entrepreneurs

Get inspired with our latest article in a series highlighting successful women entrepreneurs.

Celebrate Pride with Florence Gagnon

Celebrate Pride with Florence Gagnon

Her journey was so inspirational it was adapted to the silver screen, but it started with a focus on her local community.

Spotlighting Female Entrepreneurs — Gloria Kim, Gloryous Productions

Spotlighting Female Entrepreneurs — Gloria Kim, Gloryous Productions

A series of articles that highlight various successful women entrepreneurs who bank with TD Small Business Banking. Discover their success.

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Create Your Business Plan

Your business plan is a document that should grow with your business. It should undergo constant revisions as your business evolves and expands.

Navigation:

  • What Your Business Plan Will Do For You
  • Sample Business Plans
  • General Business Planning Help

What Your Business Plan Will Do For You  

  • Be a reality check! It will force you to identify your business strengths and weaknesses.
  • Help you figure out your budget.
  • Provide a clear direction, which can keep you focused and help eliminate stress.
  • Be your timetable for operations
  • Help you coordinate all the diverse activities that go into running your business.
  • Serve as a resume when you seek lenders, suppliers, investors or partners.
  • Ensure you evaluate the market for your product or services and size up the competition.
  • Provide a clear starting point for future business planning.

Sample Business Plans  

Bplans.com This site offers a selection of free sample business plans, as well as articles on business planning. Bplans.com also sells business planning software.

Business Plans Handbook, Gale Publishing This is a database of actual business plans written by North American entrepreneurs seeking financing for their businesses. Includes examples of many start-up business ideas. Access is available through many BC public libraries, made possible by a generous donation from the Sutherland Foundation. Affiliates of UBC can start here .

Center for Business Planning The MOOT CORP® Competition simulated the experience of entrepreneurs pitching investors for funding. Although the competition is no longer held, the business plans presented by MBAs from the best business schools in the world can still be found on the Internet Archive's Wayback Machine.

Templates  

Futurpreneur - Business Plan Writer An interactive, online, tool that allows you to customize your business plan. Includes tips & tricks and can be downloaded to a word, excel or PDF file.

Business Development Canada (BDC) - Business Plan Template This is one of the best downloadable business plan templates. The business plan contains 2 sections, with a glossary and user guide.

Canada Business Site An excellent source for financing, permit, and business planning information. Includes a complete list of useful templates.

SCORE SCORE is a non profit association helping small businesses. Their library includes templates for business plans, SWOT analysis, financial projections and more.

General Business Planning Help  

Small Business BC (SBBC) SBBC is a great place to start for information on BC specific regulations and guidelines, for whatever stage you are in your business development. This is a great post  on the topic.

GoForthInstitute An excellent collection of free resources for entrepreneurs on diverse subjects. Of particular interest are the How-To Guides, templates and samples, and business calculators. They also offer low-cost video training.

Small Business Planner, the US Small Business Administration (SBA) This website includes information and resources that will help you at any stage of the business lifecycle. Watch their series of business planning videos here .

Need information on business research as you write your business plan? Check out our Beginner's Guide to Business Research , or go to our collection of 100+ Industry  Guides for industry-specific research help.

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Create a Business Plan

Think of it as a playbook for your goals, priorities and growth opportunities., how to write a business plan.

Creating a business plan can feel like a huge undertaking when you are starting a new business . And while developing one does require careful thought, studies show that entrepreneurs who have a formal plan are often more successful than those who don’t. Keep reading to see how a business plan benefits you and the details you should include.

Prefer to just get started? Start creating your business plan with the RBC Business Plan Builder.

Content in this Article

What is a business plan? Benefits of writing a business plan Information to include in your business plan Create your plan with the RBC Business Plan Builder

What is a Business Plan?

Put simply, a business plan is a document that explains to others your vision for your business, the gap in the market your business will fill and the steps you will take to succeed. Creating a business plan is a crucial task for any business, and one which requires you to be thoughtful about the direction of your business, consider the goals most important to you, and how you will go about achieving them. A solid business plan will give you the confidence that you will find success, and may even reveal some gaps and risks. In fact, studies show entrepreneurs who start with a written business plan are more successful than those who don’t. Whether you’re creating a roadmap to follow as a new business owner, need a pitch to attract investors or a document to engage stakeholders, a business plan is a living document you’ll want to update regularly as your business, goals and circumstances evolve. While some business owners consider writing a business plan an overwhelming step, it doesn’t have to be. Creating the best business plan ever is a matter of breaking it down into individual steps — and then taking them one at a time.

Benefits of Writing a Business Plan

Writing a business plan can help you in several ways—here are just a few of the biggest benefits:

  • Provides a roadmap. A business plan requires you to be thoughtful about the direction of your business, consider the goals most important to you and how you will achieve them. Think of it as your step-by-step guide for success!
  • Reveals gaps or risks you need to address. By looking at your business critically, you’ll be able to identify your strengths as well as areas where you may be vulnerable.
  • Shows potential investors, stakeholders or lenders that you’re serious. Attract and engage those who may be interested in your business with all the important information they need to know.

Information to Include in Your Business Plan

Create an executive summary Describe the current business environment Outline your marketing and pricing strategies Describe how your business will operate Detail your financing and cash flow needs Describe your team (even if it’s just you) Identify risks and how you’ll protect your business Write a conclusion Include your contact information

Create an Executive Summary

After your cover page and table of contents, include an executive summary. Since this is the first thing readers will see, it should be clear, grab their attention and identify what your business does.

What to include:

  • Your industry, target market and how your business is different from the competition
  • Your business structure (sole proprietorship, corporation, etc.)
  • What stage your business is in
  • Your experience and credentials, as well as your team’s, if applicable
  • Financial projections for the business (or performance to date, if you’re already operating)

Tip: Write your executive summary last and keep it to one page. While it’s structurally the first section, it will summarize everything else in your plan.

Describe the Current Business Environment

This should be a detailed history and summary of your business, identifying the product(s) or service(s) you’re offering and how you will solve a problem or need in the market. Be sure to include any pre-market research or testing you’ve conducted that speaks to the viability of your idea.

When you’re starting a business , your bank and potential investors don’t have historical data to review. Your plan must clearly convey your strategy, competencies and the reasons your venture will succeed. (If your business is already established, you’ll want to cover where you started and how you got here.)

  • Where you want your business to go—and how you’ll get there. What are your goals? How will you generate sales?
  • What your business does. What needs does your business fulfill? Where will you sell your products or services?
  • Your business set up. How is your business structured ? Are there other owners or shareholders?
  • How you know your business will work. What market research or testing have you done? Are there trends?

Tip: Revisit your business idea by asking yourself these 7 key questions or use our business idea checklist to see the steps you may need to take to get to opening day.

Outline Your Marketing and Pricing Strategies

This is your opportunity to explain how you’re going to get customers to buy your products or services. This section involves identifying your ideal customers, your pricing strategy and more.

  • Your products, service and unique selling proposition. What are the features of your product or service and what makes it unique compared to what your competitors offer? How will you draw customers away from competitors?

Tip: Completing a strengths, weaknesses, opportunities and threats (SWOT) analysis may help you write this section. Download a FREE SWOT Analysis Template

  • Your pricing strategy. How will your pricing be competitive, but still allow you to make a profit? See our factsheet: Pricing and Costing Accurately
  • Your sales and delivery strategy. How will you will generate sales? Will you sell directly to customers or through other businesses? How much will it cost to produce and ship your product?
  • Advertising and promotion strategy. Which advertising and promotion tactics (website, digital marketing, social media, email) will reach your audience most effectively?

Tip: Choose a few channels to do well instead of pursuing all of them at once. That way, you’ll be better able to direct your focus and monitor your progress.

Describe How Your Business Will Operate

The operations section of your business plan should describe what’s physically necessary for your business, as well as any partners who help keep things running smoothly.

This section contains four main categories:

  • Your stage of development. This should highlight what you’ve done to date to get the business operational, then follow up with an explanation of what still needs to be done.
  • The production process. This lays out the details of your day-to-day operations, manufacturing details, inventory, costs, outsourcing and more.
  • Getting products and services to customers. What is your supply chain and distribution strategy?
  • Partners and allies. Who are the people and organizations that support you? Who are key suppliers and vendors?

small business plan template canada

Third-party groups may be able to help you in your journey. For example, Futurpreneur serves entrepreneurs age 18-39 who want access to business resources, financing and mentoring.

Detail Your Financing and Cash Flow Needs

Use this section to determine how strong your business is financially. Be realistic about expenses and projected income so you can properly assess your financial health early on and make sure you have enough cash for the first year.

  • Startup costs. What are your one-time and ongoing expenses? How will you cover the costs? Learn more with our factsheet: Deciding How Much Money You Need to Start or use our Startup Costs Calculator .
  • Profit margin and break-even point. How will you make a profit and calculate margins? What is your break-even point? Suggested reading: The Difference Between Cash Flow and Profit
  • Balance sheet. What assets, liabilities and capital do you have at this point in time?
  • Financing. What are your sources of financing —savings, loans, grants? What are your repayment terms, if any?
  • Cash flow forecast. What is your 12-month cash flow forecast? Estimate it now: Cash Flow Forecast Template

Describe Your Team (Even if It’s Just You)

This section should describe your current team as well as anyone you might need to hire to round out your company.

  • Skills and strengths. What skills do you and/or your team have that are critical to the business?
  • Management style and structure. How will you manage your team? Who will employees report to?

Identify Risks and How You’ll Protect Your Business

Every business comes with some risk, so it’s better to be prepared for them now rather than be surprised later. Use this section to explore potential risks and how you’ll protect your business.

  • Obstacles your business may face. How could the economy, your competition, supply chain or another circumstance affect your business? How do you plan to minimize and handle these and other risks?
  • How you’ll protect against losing market share (new competition). Do you have any agreements or vendors you’ll rely on?
  • How you’ll prevent critical data loss. Outline what you will do to reduce the impact of data loss, such as backing up all computer data regularly, using cloud providers, employee rules on installing software and other policies.
  • How you’ll protect intellectual assets. Will employees sign confidentiality agreements to protect processes, trade secrets and other intellectual property? See How Intellectual Property (IP) in Canada Works .
  • Compliance requirements. What rules, regulations and licenses will you need to comply with to operate?
  • Insurance needs. Does your industry require specific coverage, such as professional liability or other insurance?

Write a Conclusion

This is the last thing readers will see, so you want it to be strong. Use your conclusion to reinforce your goals and objectives. If you need financing, clearly state the amount you need and how it will be used. As with your executive summary, your conclusion should be succinct, clear and leave a positive impression.

Include Your Contact Information

Potential investors and lenders need to know how to reach you. Don’t forget to include your business name, contact information, website and social media presence in your plan.

Create Your Plan with the RBC Business Plan Template

This comprehensive template will guide you through a series of questions, resources and tips to help you write your plan. Best of all, you can go at your own pace and come back to work on it anytime.

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What is a business plan and why do I need one?

A business plan is a written document that describes your business, its objectives and strategies, the market you are targeting and your financial forecast. It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable financial forecasts. Preparing your plan will also help you focus on how to operate your new business and give it the best chance for success.

Securing financial assistance to start your new business will be directly related to the strength of your business plan. To be considered a viable candidate to receive funds from a financial institution or investors, you must demonstrate that you understand every aspect of your business and its ability to generate profit.

A business plan is more than just something to show lenders and investors, it is also necessary to help you plan for the growth and progress of your business. Your business’s success can depend on your plans for the future.

Listed below are examples of questions to ask yourself when writing your business plan:

  • How will I generate a profit?
  • How will I run the business if sales are low or if profits are down?
  • Who is my competition, and how will we coexist?
  • Who is my target market?

What should be included in a business plan?

Although business plans can vary in length and scope, all successful business plans contain common elements. The following points should be included in any business plan:

  • Executive summary (business description)

Identifying your business opportunity

Marketing and sales strategy of a business plan, financial forecasts of a business plan, other useful documentation, the executive summary (business description).

The executive summary is an overview of the main points in your business plan and is often considered the most important section. It is positioned at the front of the plan and is usually the first section that a potential investor or lender will read. The summary should:

  • Include the main points from each of the other sections to explain the basics of your business
  • Be sufficiently interesting to motivate the reader to continue reading the rest of your business plan
  • Be brief and concise – no more than two pages long

Although the executive summary is the first section of the plan, it is a good idea to write it last – after the other parts of the plan have been finalized.

In this section of your business plan, you will describe what your business is about – its products and/or services – and your plans for the business. This section usually includes:

  • Who you are
  • What you do
  • What you have to offer
  • What market you want to target

Remember that the person reading the plan may not understand your business and its products and services as well as you do, so try to avoid using complicated terms. It is also a good idea to get someone who is not involved in the business to read this section of your plan to make sure that anyone can understand it.

Some of the things you should explain in your plan include:

  • Whether it is a new business venture, a purchase of an existing business or the expansion of an existing business
  • The industry sector your business is in
  • The uniqueness of your product or service
  • The advantages that your business has over your competition
  • The main objectives of your business
  • Your legal business structure (sole proprietorship, partnership, corporation)

You can also include the date the business was registered/incorporated, the name of the business, its address and all contact information.

A strong business plan will include a section that describes specific activities that you will use to promote and sell your products or services. A strong sales and marketing section demonstrates that you have a clear idea of how you will get your product or service into market and can answer the following questions for the reader:

  • Who are your customers? Do some research and include details of the types of customers who have shown an interest in your product or service. You can describe how you are going to promote yourself to potential customers.  
  • How are you going to reach your customers? You should know your customers and the best methods to reach them. Research will help you identify the most effective way to connect with your selected audience, whether it is through the Internet, over the telephone or by in-person contact.  
  • Who is your competition? Once you understand this, you need to research their strengths and weaknesses and use this information to assess potential opportunities and threats to your business.  
  • How are you going to position your product or service? Describe what makes your product or service unique to the market you are trying to target.  
  • How are you going to price your product or service? This information will outline your pricing strategy, including incentives, bulk pricing and/or group sales.

Don't underestimate the importance of this part of your plan. Investors need to know that you and your staff have the necessary balance of skills, motivation and experience to succeed. This section describes the people working in your business and how you plan to manage your activities. Information in this section can include:

  • A brief organizational layout or chart of the business
  • Biographies of the managers (including yourself)
  • Who does what, with a brief job description of each position
  • The needed skills of each position
  • Any other relevant information related to personnel

It is also a good idea to outline any recruitment or training plans, including the cost and the amount of time required.

The operations section of your business plan will outline your daily operational requirements, facility requirements, management information systems, information technology requirements and any improvements you may have planned. This section usually includes information like:

  • Daily operations – descriptions of hours of operation, seasonality of business, suppliers and their credit terms, etc.  
  • Facility requirements – this includes things like size and location, information on lease agreements, supplier quotations and any licensing documentation    
  • Management information systems – inventory control, management of accounts, quality control and customer tracking  
  • Information technology (IT) requirements – your IT systems, any consultants or support service and an outline of any planned IT developments

Your financial forecast turns your plan into numbers. As part of any good business plan, you need to include financial projections for the business that provide a forecast for the next three to five years. The first 12 months of forecasts will have the most details about costs and revenues, so investors can understand your strategy.

Your financial forecasts should include:

  • Cash flow statements – cash balance and the cash flow pattern for the first 12-18 months, including working capital, salaries and sales
  • Profit and loss forecast – projected level of profit based on your projected sales, the costs of providing goods and services and your overhead costs
  • Sales forecast – the money you expect to make from sales of your product or service

Some other things to consider include:

  • How much capital do you need (if you are seeking external funding)?
  • What security can you offer to lenders?
  • How do you plan to repay your debts?
  • What are your sources of revenue and income?
  • Forecasts should be covering a range of scenarios
  • Reviewing risks and developing contingency plans to offset the risks
  • Reviewing industry benchmarks/averages for your type of business

It is important to do your research to find out how your business compares to other small businesses in your industry.

The following sections are not always required, but can enhance any business plan:

  • Implementation plan – this section lists estimated dates of completion for different aspects of your business plan, targets for your business and accomplishments. Appendices – these should include supporting material, such as licences and permits, agreements, contracts and other documentation that support your business plan.

Who should write my business plan?

Your business plan should be prepared by you, the entrepreneur. It is your business and your plan, but do not hesitate to ask for help from your management team, consultants, accountants, bookkeepers, copy editors or other experienced people.  

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Business plan template with blank fields for users to fill out.

Download the business plan template

Fill in the form to get a free business plan template as an editable PDF. We’ll send a one-pager and a multi-pager to choose from.

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Getting started with the business plan template

We’ll send you two types of business plan template – a one-pager and a multi-pager. Choose the one that’s right for you. They come with instructions to help fill them out.

Doing a business plan will improve your idea. It helps you think about your business from different points of view. The process will flag up unseen risks, but also new opportunities. Aside from helping refine your idea, a business plan will move it forward. It’ll give you a concrete set of steps to go from "I should" to "I did".

Are you looking forward to the bookkeeping and accounting that comes with a new business? Na, we didn’t think so. Xero can automate a lot of that stuff away for you.

One-page business plan template

Great for making a start

Helps you pin down the main idea

Easy to update as things evolve

Multi-page business plan template

Ideal for nailing down the details

Required by most investors and lenders

Good if you face big startup costs

Tips to help with your business plan

Don’t obsess over every detail to start with. That will make the plan long and hard to change. Keep it short and concise initially.

Financing your business

Need cash to get going? Check out our finance guide.

How to finance your business

Starting a business

Check out our guide for information about getting started.

How to start a business

Find a bookkeeper or accountant

Accoutnants and bookkeepers can help build financial resilience into your business budgets.

Find a financial advisor near you

Plan on making business fun

Xero does not provide accounting, tax, business or legal advice. This template has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.

Start using Xero for free

Access Xero features for 30 days, then decide which plan best suits your business.

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Or compare all plans

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2. Prepare business plan

A business plan explains your business idea, short and long-term business goals and what resources are available to start and operate your business. 

A business plan explains your business idea, short and long-term business goals and what resources are available to start and operate your business. If you need help writing a business plan:

  • contact your local Small Business Enterprise Centre or, if you are a technology or innovation company, a Regional Innovation Centre
  • check available online resources, such as BDC , Futurpreneur , or BPlans for sample business plans talk to your local bank to see what tools they have to help you start your business

Small Business BC

Resources for entrepreneurs to start and grow successful businesses.

Accédez la page d'accueil dédiée aux ressources en française de SBBC

Utilisez notre outil de traduction pour le site entier

Business Planning for Small Business

Many entrepreneurs write a business plan only when they need to secure start-up financing. However, your plan is far more than a document for banks and investors to read; it’s an invaluable roadmap for launching and growing your business.

In order to put your business concept on paper, you need to think through and research the many factors that are needed to make sure your business is a success. With a plan, not only can you spot potential weaknesses, opportunities, and threats, your plan can help you make informed decisions about your venture before you commit yourself legally or financially. Here’s how Small Business BC can help you prepare your business plan.

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Download Our Business Plan Checklist

So you have decided you want to run your own business, but have you started your business planning process? Start with Small Business BC’s Business Plan Checklist.

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Business Plan Consulting And Review Service

No matter what stage you’re at in the business planning process, our review service can keep you on course for success. Currently 50% courtesy of a subsidy from Fortis BC.

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Download Our Free Business Plan Template

Our business plan template allows you to map sales forecasts, project costs, coordinate marketing and determine an optimal financing request all in one simple easy to use tool.

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Watch our Writing a Business Plan Webinar Recording

Hear from SBBC Business Plan Advisor, John Baxter, as he shares his expertise on how to approach writing a business plan.

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Province of BC - Business Structures Wizard Tool

One of your most important early decisions when starting a new business is your choice of business structure. Use the Province of BC’s handy tool to compare your options and determine the best fit for your needs.

Hear from Business Plan Clients

Our advisor asked probing questions about things like inventory, marketing expenses and sales forecasts – it made us recalculate our assumptions and made sure we realized our potential..

Discover how SBBC's Business Plan Advisory service helped Takasa hone in on their unique selling point to achieve their vision of starting a socially and environmentally responsible retail business.

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Working with a Business Plan Advisor really helped me understand what was coming down the line six months, and a year from now

Hear how several SBBC Business Plan clients, including The Garden Strathcona, have navigated the unique challenges of their industries and achieved success.

The Garden Strathcona + More

small business plan template canada

Other Ways Small Business BC Can Help Your Business

Read our 10 step guide to starting a business.

Read our simplified guide to each area of the start-up experience, highlighting the services and help you can lean on to achieve your goals.

10 Step Guide to Starting a Business

Discover our selection of webinars to upskill your business

Small Business BC provides practical business education tailored for small businesses right here in BC. Whether you need help starting your business, hiring employees, managing operations, or anything else, Small Business BC is here to help. View our full calendar of business education .

Sign up for our newsletter and receive our latest updates in your inbox every two weeks

Sign up for Small Business BC’s newsletter and be the first to discover our latest news, special offers, and practical resources for your small business. Sign up now , it’s free and easy!

Discover our range of free downloadable resources

Starting a business? Start with Small Business BC’s comprehensive list of free downloadable resources. We’ve got everything covered, from business plan templates, cash flow forecasting and our starting a business checklist. View Resources .

Reach more customers online by joining our BC Marketplace

Join our free online hub of BC-based small businesses and reach a province-wide audience of engaged customers that are passionate about small business. Sign up now .

View our range of on-demand E-Learning education

Our self-directed E-Learning courses are available anytime, anywhere. Each on-demand course consists of bite-sized topics filled with features like readings, handouts, videos and quizzes. Discover our range of E-Learning education today.

Find Government of Canada Resources to Help Your Business

Start Grow, and Expand Your Business

The Western Canada Business Service Network (WCBSN) is a group of independent organizations that receive WD funds to help Western Canadians start, grow and expand their businesses.

Accelerated Growth Service

The Accelerated Growth Service (AGS) helps growth-oriented Canadian businesses to expand by helping them access the key government services they need to grow, such as financing, exporting, innovation and business advice.

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small business plan template canada

  • Private Wealth
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Business Plan Tools for Producers

A business plan is like a road map. It helps you define your ag operation’s core objectives and build a detailed plan for how to achieve them. 

We want to help make writing your business plan easier. The FCC business plan bundle was designed specifically for farm operations and anyone involved in Canadian agriculture.

small business plan template canada

The bundle includes:

Business plan guide with instructions and resources

Blank business plan template

Sample business plan

There's a lot involved in writing a business plan, but it’s a worthwhile investment. It can help secure financing from a lender, attract investment or act as an internal guide, keeping your management team focused on the same goals.

Analyzing cash flow drivers

Assessing your liquidity

Assessing your management ability

Building and sensitizing financial projections

Creating an organizational chart/job description

Financial Asset Analysis

Foundational financial ratios

Net worth template

FCC Knowledge Newsletter

Bringing our best business management content to your inbox.

Get a clear picture of your finances.

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Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here .

Free business plan template (with examples)

Alan Bradley

Sierra Campbell

Sierra Campbell

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Updated 3:37 a.m. UTC Feb. 12, 2024

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Featured Image

AzmanL, Getty Images

Starting a business can be a daunting undertaking. As with so many large projects, one of the most difficult challenges is just getting started, and one of the best ways to start is by putting together a plan. A plan is also a powerful tool for communication and can serve as a cornerstone for onboarding new partners and employees or for demonstrating your philosophy and priorities to potential collaborators. 

A solid business plan will not only provide a framework for your business going forward but will also give you an early opportunity to organize and refine your thoughts and define your mission statement, providing a guidepost that can serve as a beacon for your business for years to come. We’ve provided a business plan template below to help guide you in the creation of your new enterprise.

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Business plan template

What should a business plan include?

Regardless of the type of business you own or the products and services you provide, every business plan should include some core elements:

  • Mission statement. The definition and executive summary of your business.
  • Market analysis. A breakdown of the market segment and customers you hope to reach, built through primary (gathered by you) and secondary (gathered from outside sources) research.
  • Organization and logistics. The nuts and bolts of how your business is operated
  • Products or services. What your company provides its customers.
  • Advertising and marketing. How you intend to get your products in front of your customers.
  • Forecasting. Revenue forecasting for partners or potential investors.

Why do you need a business plan?

A business plan is a framework for success. It provides a number of key benefits:

  • Structure. The outline around which to design your business.
  • Operational guidance. A signpost for how to run your business from day to day.
  • Expansion. A vision for the future growth of your enterprise.
  • Definition. A platform to consider every element of your business and how best to execute your plans for them.
  • Collaboration. A synopsis of what’s exceptional about your business and a way to attract funding, investment or partnerships.
  • Onboarding. An efficient summary of your business for new or potential employees.

Business plan examples

We’ve created two fictional companies to illustrate how a business might use a business plan to sketch out goals and opportunities as well as forecast revenue.

Bling, Incorporated

Our first hypothetical example is a jewelry and accessory creator called Bling, Incorporated. A hybrid business that manufactures its products for sale both online and through physical retail channels, Bling’s mission statement is focused on transforming simple, inexpensive ingredients into wearable statement pieces of art. 

Market analysis includes gathering data around sourcing sustainable, inexpensive components, aesthetic trends in fashion and on which platforms competitors have had success in advertising jewelry to prospective customers. Logistics include shipping products, negotiating with retailers, establishing an e-commerce presence and material and manufacturing costs. 

Bling, Incorporated advertises initially through social platforms like TikTok and Facebook, as well as with Google AdSense, with plans to eventually expand to television advertising. Revenue forecasting is structured around a low overhead on the basis of inexpensive materials, no dedicated storefront and broad reach through digital platforms.

Phaeton Custom Cars

Phaeton is a custom car builder and classic car restoration business with a regional focus and reach. Its mission statement defines it as a local, family-owned business serving a community of auto enthusiasts and a broader regional niche of collectors. 

Market analysis breaks down the location and facilities of other competitor shops in the region as well as online communities of regional car enthusiasts likely to spend money on custom modifications or restoration projects. It also examines trends in valuations for custom parts and vintage cars. Logistics include pricing out parts and labor, finding skilled or apprentice laborers and mortgaging a garage and equipment. 

Phaeton advertises in regional publications, at local events and regional car shows and online through Facebook and Instagram, with an emphasis on a social presence highlighting their flashiest builds. Revenue forecasting is built around a growing reputation and high-value commissions.

Frequently asked questions (FAQs)

A business plan may not be a prerequisite for every type of business, but there are few businesses that wouldn’t benefit from one. It can serve as an important strategic tool and help crystalize a vision of your business and its future.

Business plans do just that: they help you plan the future of your business, serve as a platform to brainstorm ideas and think through your vision and are a great tool for showcasing why your business works to potential investors or partners.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Alan Bradley

Alan is an experienced culture and tech writer with a background in newspaper reporting. His work has appeared in Rolling Stone, Paste Magazine, The Escapist, PC Mag, PC Gamer, and a multitude of other outlets. He has over twenty years of experience as a journalist and editor and is the author of the urban fantasy novel The Sixth Borough.

Sierra Campbell is a small business editor for USA Today Blueprint. She specializes in writing, editing and fact-checking content centered around helping businesses. She has worked as a digital content and show producer for several local TV stations, an editor for U.S. News & World Report and a freelance writer and editor for many companies. Sierra prides herself in delivering accurate and up-to-date information to readers. Her expertise includes credit card processing companies, e-commerce platforms, payroll software, accounting software and virtual private networks (VPNs). She also owns Editing by Sierra, where she offers editing services to writers of all backgrounds, including self-published and traditionally published authors.

How to start a small business: A step-by-step guide

How to start a small business: A step-by-step guide

Business Eric Rosenberg

IMAGES

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  2. Small Business Plan Template

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  3. Business Plan Template Pdf Canada

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  4. How To Develop A Business Plan Template

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  5. Simple Strategic Plan Template Lovely Simple Business Plan Template

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  6. Free Printable Simple Business Plan Template Of 19 Small Business Plan

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  5. Business Plan Examples

  6. MyBizPlan Assistant: Financial Plan and Loan Proposal

COMMENTS

  1. Planning a business

    2024-01-15 Find out how to write a business plan and access templates, sample business plans, market research information and statistics.

  2. Business plan template for entrepreneurs

    864KB Category Business strategy and planning Who is it for? Entrepreneurs Create a business plan that will serve as a roadmap for your business and help you make a successful pitch to lenders. Fill in the form to get your tool. It's 100% free. Download Explore more New Business strategy and planning Strategic planning toolkit

  3. How to Write a Business Plan + Templates

    June 14, 2023 21 min read Learn how to write a business plan for your small business today. Download our business plan template and follow our 10-step plan with easy-to-ready samples. Whether you're a founder, a new owner, or just beginning to think about starting a business , demands come at you fast. Tasks, to-do lists, meetings, and more.

  4. Download a Free Business Plan Template

    Download a Free Business Plan Template | Scotiabank Canada Growing Need a business plan? Need a business plan? Try our template. Invest in the future of your business by taking the time to create or update your business plan using our free template. The importance of your business plan

  5. Sample business plans and templates

    You can create your own professional business plan with the help of the BDC sample plan and business plan template. Futurpreneur Canada - Business Plan Writer Are you ready to start your business? You can use this online tool to develop, write, and download your business plan.

  6. Best Small Business Plan Template For 2024 in Canada

    Best Small Business Plan Template For 2024 in Canada By Ownr Team • Read Time: 4 minutes Updated on: Feb 7, 2024 Looking to start a small business in Canada - in 2023 or beyond? Or maybe you're more of a startup founder. In either case, the best way to begin is with our free business plan template. Here's how to get going.

  7. How to write a business plan

    What is a business plan? A business plan explains how a company brings in money and is run day-to-day. There isn't a single standard format, but most plans cover these four main areas: Company profile Sales and marketing Operations Financials

  8. Writing a Business Plan

    Download our business plan template. Calculate Start-up Costs Download our start-up costs template. Cash Flow Calculator Figure out your income vs expenses. Loan Calculator Determine your monthly interest and payments. Products and services to help get you started Small Business Bank Accounts

  9. Create Your Business Plan

    Create Your Business Plan | Small Business Accelerator Your business plan is a document that should grow with your business. It should undergo constant revisions as your business evolves and expands.

  10. Free Business Plan Template and Examples for Small Businesses (2024)

    Free Business Plan Template and Examples for Small Businesses (2024) - Shopify Canada Menu Start selling with Shopify today Start your free trial with Shopify today—then use these resources to guide you through every step of the process. Start free trial blog | Starting Up Free Business Plan Template and Examples for Small Businesses (2024)

  11. Download free templates

    Templates for download. Our free business resources are designed to help you set your business on the right path and increase your chances of success. Templates. Checklists. Toolkits. Reference documents. Templates.

  12. How To Write a Business Plan

    Get Started on your business plan by downloading Small Business BC's Business Plan Template and Cashflow Forecasting Tool. Download Now How to Write a Business Plan You've no doubt heard the expression, "Failing to plan is planning to fail." Many entrepreneurs write a business plan only when they need to secure start-up financing.

  13. Create a Business Plan

    Provides a roadmap. A business plan requires you to be thoughtful about the direction of your business, consider the goals most important to you and how you will achieve them. Think of it as your step-by-step guide for success! Reveals gaps or risks you need to address.

  14. Business plan guide

    A business plan is a written document that describes your business, its objectives and strategies, the market you are targeting and your financial forecast. It is important to have a business plan because it helps you set realistic goals, secure external funding, measure your success, clarify operational requirements and establish reasonable ...

  15. Business Plan Templates

    Get the ball rolling with our free business plan templates and tips. Choose from a multi-page template, or a one-pager to help flesh out your idea. ... Small business templates. Accounting glossary. Business resources. Customer stories. Company. About Xero. ... Region Canada (CAD)

  16. 2. Prepare business plan

    Start a business in Ontario 1. Conduct market research 2. Prepare business plan 3. Decide on the ownership structure for your business 4. Register your business online 5. Check if you need licences and permits 6. Confirm if you need to charge HST 7. Understand your tax obligations 8. Consider business insurance 9. Understand the regulations 10.

  17. Simple Business Plan Template (2024)

    Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might...

  18. Business Planning Resources

    Business Planning for Small Business. Many entrepreneurs write a business plan only when they need to secure start-up financing. However, your plan is far more than a document for banks and investors to read; it's an invaluable roadmap for launching and growing your business. In order to put your business concept on paper, you need to think ...

  19. How to Create Your Own Business Plan

    How to Create Your Own Business Plan - BMO Canada Resource Hub How to Create Your Own Business Plan Starting a business is hard work, and even the best ideas don't always work out. Learn how a business plan can help increase your chances of success. Updated January 5, 2022 4 min. read

  20. Free small business plan templates to edit and print

    After selecting the best small business plan template that fits your needs, edit your project instantly on the Canva platform. Take advantage of the premade layouts to categorize and present your content. Personalize the look of each page by moving and resizing the elements, then add as many pages as you wish.

  21. 10 steps to a solid business plan

    Our business plan bundle can make writing one easier. 1. One-page executive summary. Briefly explain your business vision. Include: who you are, what your business does, future business plans and how you will be successful. Also, summarize your current financial state and future needs. Read: How to develop a successful farm vision. 2. Goals and ...

  22. Free downloadable business plan template

    Sample business plan. Download bundle now. Bundle includes: Word documents and pdfs. By accessing, downloading, and using the FCC Business Tool Template, you acknowledge and agree that any use of the materials and their contents is entirely at your own risk. It does not replace independent financial, business, or legal advice.

  23. Free Business Plan Template (With Examples)

    If you're looking for a free business plan template, read our guide to see some of the examples we found. ... How to start a small business: A step-by-step guide Business Eric Rosenberg. Best Of ...

  24. Using a Business Plan Template for Small Business

    Using a business plan template is a good idea. If you plan on starting a business in Canada, you will need a business plan. Your options are to write one yourself from scratch, hire a professional to write one for you (this can cost from $1,500 to $5,000), or you can use business plan tools and business plan templates to get it done on the cheap.