2 min read
Executive Summary
The executive summary is written last but placed first. It should state what your company does, the market opportunity, your competitive advantage, and the funding requirement (if any) in no more than one page. Lenders and investors read this before deciding whether to read further.
- Company name, registration number, and registered address
- Brief description of the business and its products or services
- Key financial headline (turnover, EBITDA, or net profit target)
- Amount sought and intended use of funds
- Names of directors and their relevant experience
Market Analysis and Business Model
Define the total addressable market and the segment you are targeting. Use publicly available data sources — industry trade bodies, Companies House sector statistics, or ONS data — rather than invented figures. Identify your two or three closest competitors and explain your differentiation.
Your business model section should describe how revenue is generated, the sales cycle length, and whether revenue is recurring or project-based. A lender assessing repayment capacity will pay close attention to contract tenure and customer concentration risk.
Operations and Management
Outline your operational structure: premises, key suppliers, technology dependencies, and any licences or regulatory approvals required. Then introduce the management team, covering relevant experience and any skills gaps you plan to fill.
- Organisational chart or key-roles list
- Details of any professional advisers (accountant, solicitor)
- Key operational risks and mitigation steps
- Current and planned headcount
Financial Projections
Include a three-year profit and loss forecast, a balance sheet projection, and a monthly cash flow forecast for at least year one. State your assumptions clearly — growth rate, average transaction value, debtor days — so a reader can stress-test them. Where you are seeking finance, show the impact of repayments on cash flow. These figures are illustrative projections, not guarantees; confirm presentation format with your accountant.
Funding Requirement and Exit or Repayment Strategy
If the plan is supporting a finance application, specify the amount, the preferred facility type (term loan, revolving credit, invoice finance), and the repayment term you are targeting. Explain what the funds will be used for and how repayment will be serviced from operating cash flow. If the plan is investor-facing, outline expected return and exit horizon.
Frequently asked questions
How long should a business plan be?
For most SME finance applications, 10–20 pages plus appendices is sufficient. Brevity combined with clear supporting data is more persuasive than length.
Do I need audited accounts in the business plan?
Not necessarily, but lenders will typically ask for two to three years of filed accounts or management accounts alongside the plan. Confirm exactly what your specific lender requires before submitting.
Can I use this checklist for a start-up with no trading history?
Yes. For pre-revenue companies, financial projections carry more weight and should be accompanied by detailed assumption notes and any letters of intent from prospective customers.
Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.