SBA Business Plan
Effective 8a SBA Business Plan Assistance
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A business plan is an essential road-map for business success. This living, breathing document generally projects 3-5 years ahead and outlines the route a company intends to take to reach, maintain and grow revenues. A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making.
Once your 8a Certification has been approved by the SBA, you will be required to submit your SBA Business Plan. Theodore Watson & Associates’ consultants will help you construct a meaningful 8a Business Plan that details your business initiatives and goals. The SBA Business Plan must be submitted within 30 days from the date of its 8a program admission or from its attendance at mandatory SBA 8a Program orientation. The 8a company will not be eligible for 8a program benefits, including 8a sole source contracts, until its 8a business plan is approved.
What Goes into an SBA Business Plan?
There is no single formula for developing a business plan, but some elements are consistent throughout all business plans. Your plan should include an executive summary, a description of the business, a plan for how you will market and manage your business, financial projections and the appropriate supporting documents. The 8a Business Plan must address all 52 of the SBA Form 1010c questions. Watson & Associates’ experts can help you to:
- Meet the 30-day deadline
- Add substance to a meaningful 8a Business Plan
- Avoid early termination resulting from failure to submit the plan
In preparation for an SBA business plan, you should consider the following essential elements in the following outline.
Elements of a Business Plan
- Cover sheet
- Executive summary (statement of the business purpose)
- Table of contents
- Body of the document
- Description of business
- Operating procedures
- Business insurance
- Financial data
- Loan applications
- Capital equipment and supply list
- Balance sheet
- Break-even analysis
- Profit and loss statements
- Three-year summary
- Detail by month, first year
- Detail by quarters, second and third year
- Assumptions upon which projections were based
- Pro-forma cash flow
- Supporting documents
- Tax returns of principals (partners in the business) for last three years, personal financial statements (all banks have these forms)
- Copy of franchise contract and all supporting documents provided by the franchisor (for franchise businesses)
- Copy of proposed lease or purchase agreement for building space
- Copy of licenses and other legal documents
- Copy of resumes of all principals
- Copies of letters of intent from suppliers, etc.
Note: You want to have your SBA Business Plan Submitted on time or you can face an early termination.
If you are still in the 8 a certification process and are considering having a consultant help you with your SBA 8a Business Plan, contact the government contract attorneys and consultants at Theodore Watson & Associates today. Call us today or contact us online.
Call Watson & Associates toll free at 1-866-601-5518.