You can click, here, to read “What is a Business Plan, Who Needs one and Why, Benefits” for detailed insight that will help you assess your needs and understand which is the effective Business Plan for your particular needs.

It is important to keep in mind that a Formal Business Plan, amongst other cases, is needed both for Existing Businesses and Start-ups for:

• Securing a Business Loan
• Searching for Investors

If a Formal Business Plan is required in order to satisfy your specific needs, it is important for you to study and understand what the necessary content should be, bearing in mind that the content should be adjusted for your target audience and the purpose of your Business Plan.

Below you can see the different Sections included in a Formal Business Plan and read in detail what is included in each section, depending on its use and the target audience.

Whichever type of Business Plan is required to serve your specific needs, it could be a brief (Summarising) Abbreviated Business Plan or a Formal Business Plan, studying what each Section of the Business Plan involves will help you understand the analysis that needs to be performed for each Section. You should remember that, even in a brief Abbreviated Business Plan where the information recorded is summarised, the analysis steps must be followed in order to obtain the information that should be recorded in your Business Plan.

Given the opportunity you should know that for Existing Businesses, with a period of activity of more than 2 years, operating in eligible sectors of the economy (Services, Manufacturing, Tourism, Construction, Commerce, etc.), which in their efforts for further improvement and business development need to develop a Formal Business Plan, we can help you utilise the "Small Business Support Programme in Cyprus" Programme provided by the EBRD. The Programme provides 65% Grant (not loan) (up to 70% under certain conditions) of the net development cost.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.

Typical Sections of a Formal Business Plan
A Formal Business Plan includes Sections such as:

• Executive Summary
• Business Overview/ Summary
• Market Analysis
• Marketing Strategy formulation and Marketing Plan preparation
• Investment Analysis
• Financial Projections

Below you can find a brief explanation for each Section. You can find detailed information, including examples, for each section by selecting the respective link for the section of your interest.

1. Executive Summary. The Executive Summary is usually the first section of a Formal Business Plan. This Section should include information such as who are you, what do you offer and what are the problems your business solves, your target market, the purpose of your Business Plan, the size of your Market and your Business, and critical information concerning the Successful Implementation of your Business Plan.
2. Business Overview/ Summary. The Business Overview or Summary is usually the second Section in a Formal Business Plan and includes information in the form of a historical retrospection, highlighting the most important milestones during development/ growth. Also, this Section covers the Management team, the location of your facilities, your legal structure and your mission. This Section is usually the shorter Section of a Formal Business Plan, but this does not mean that it is of less importance. This section allows you to "introduce" your business to the audiences you are addressing, who do not know anything about you, creating positive impressions.
3. Market Analysis. Market Analysis is usually the third Section in a Formal Business Plan. This Section presents information that is part of the core of your Business Plan. It should include a detailed analysis of what your business offers to the market, which problem your products/ services address, how you compare with the competition, the market size and the impact of your products/ services on the market. This Section analyses and explains the competitive environment and highlights the competitive advantages of your business, providing sufficient documentation, using objectively reliable data,. Information presented may also include detailed analysis of the technologies employed, copyrights you own and other key factors in relation to your products and/ or services.
4. Marketing Strategy formulation and Marketing Plan preparation. In a Formal Business Plan, the Marketing Strategy and Marketing Plan Section usually follows the Market Analysis Section, as it integrates Market Analysis results into your Business Plan. This Section covers the formulation of your Marketing Strategy and the preparation of your Marketing Plan. In defining your Marketing Strategy, your Unique Selling Proposition (USP), Total Customer Experience and Marketing Mix are analysed. Then your Marketing Plan is prepared and Performance Indicators for tracking and measuring your results are set.
5. Investment Analysis. The next Section in a Formal Business Plan is usually the Investment Analysis Section. This Section is essential for any Business Plan. It includes a description of all the parameters of the proposed investment plan and defines specific measurable objectives to be achieved as a result of the investment. Also, within this Section the following should be defined:
   • How much cash (the amount) will be needed to implement the investment plan,
   • The required human resources, defining responsibilities and timeframe for each stakeholder, in order to complete the investment programme within the specified budget and deadlines.
   • The time landmarks to be met for the successful implementation of the investment programme within the specified budget and timeframe.
6. Financial Projections. The Financial Projections Section is essential for any Business Plan and is usually the last section in a Formal Business Plan. The Financial Projections Section is the detailed Financial Plan of your Business Plan. The Section should include the following information that applies both to Business Plans for Existing Businesses as well as for Start-ups.
   • Profit and Loss statement or Income Statement
   • Cash Flow Analysis
   • Balance Sheet
   • Sales Forecast.

And probably some financial ratios and analysis, such as:

1. • Break Even Point Analysis
   • Net Present Value (NPV) Analysis
   • Internal Rate of Return (IRR) Analysis

Whichever type of Business Plan is required to serve your specific needs, it could be a brief (Summarising) Abbreviated Business Plan or a Formal Business Plan, studying what each Section of the Business Plan involves will help you understand the analysis that needs to be performed for each Section. You should remember that, even in a brief Abbreviated Business Plan where the information recorded is summarised, the analysis steps must be followed in order to obtain the information that should be recorded in your Business Plan.

Above you can see the different Sections included in a Formal Business Plan and read in detail what is included in each section, depending on its use and the target audience.

Also, you can click, here, to read “What is a Business Plan, Who Needs one and Why, Benefits” for detailed insight that will help you assess your needs and understand which is the effective Business Plan for your particular needs.

Bear in mind that in case you need a Business Plan to secure a Business Loan or to search for Investors, regardless of whether your business is an Existing Businesses or a Start-up, you will need a Formal Business Plan.

You should know that for Existing Businesses, with a period of activity of more than 2 years, operating in eligible sectors of the economy (Services, Manufacturing, Tourism, Construction, Commerce, etc.), which in their efforts for further improvement and business development need to develop a Formal Business Plan, we can help you utilise the "Small Business Support Programme in Cyprus" Programme provided by the EBRD. The Programme provides 65% Grant (not loan) (up to 70% under certain conditions) of the net development cost. 

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.