You might include information about where you’ll distribute your products, what your branding and logo will be and what pricing you’ll apply. This section is all about how you are planning to attract customers.
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Your target customers, market and competition:Ī summary of key insights that demonstrate you have a strong understanding of your customers (and how to identify them), your market (and how to position yourself within it) and your competitors (and how to differentiate yourself from them on factors like price, quality, brand etc). Even if this is all brand new to you, think about any transferable skills you’ve developed, life experiences you’ve had or training you’ve completed that may be useful. If you’ve previously worked in a similar business, or have experience running another business, this will help provide confidence that you are in a good position to start up. Our Loan Assessment team will want to see that the Start Up Loan will support your overall business objectives.Īn overview of your experience as it relates to your business. If you are applying for a Start Up Loan, you will of course also need to detail how you intend to use the money if you’re successful. Sometimes these are broken down as short, mid and long-term goals, but it helps if they’re measurable (how will you know if you have achieved this?) and realistic (can you achieve this with the money, resources and time you have?).
This section also includes a clear and concise overview of the goals your business is trying to achieve over a set period of time.
Gives you a clear strategy to follow when things get busy.
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