Business planning for the life of your business

October 24, 2016 - Tags: Planning

Are you an entrepreneur looking to start your own business? Do you already have a business, but are hoping to expand? Or maybe you think it's time to leave your business. No matter your circumstance, it is essential that you have a business plan.

Why do you need one? You have a vision and you understand it. However, not everyone will. A business plan serves as an explanation of every aspect of your business, from your objectives to your exit strategy. It is a living document that will change along with your business and will be a point of contact with investors, lenders, partners, and possibly even employees.

The main purposes of your business plan will depend on the stage of your business.

The start-up

You have a great idea for a business, but you don't know where to start. How are you going to turn that concept into a viable business? You have to be realistic with yourself about what you do well, and where you need help. You may also need to present your venture to possible investors to finance it.

A business plan will help you:

  • Guide your ideas from the conceptual phase into a tangible business
  • Identify strengths and weaknesses
  • Secure your start-up funds

The seasoned business

You already have a business and it's been going well, but it is always worth revisiting your business plan. Are you looking to expand and increase profits? A business plan might not only help you assess the progress and success of your business, but it can also help you plan for the future.  

A business plan can help you:

  • Compare your business's current performance to your original plan
  • Raise values of assets, lower risks, and seize opportunities
  • Create new strategies and forecasts

The end in sight

You've been in business for years and you're pleased with your progress. Eventually you will think it's time to call it quits. Whether that means closing down the business or transferring ownership, a business plan will help smooth the transition.

A business plan can help you:

  • Develop plans for transferring, selling, or closing the business
  • Establish timelines for your transitioning plans
  • Identify legal and financial requirements

We offer help in writing a business plan and provide sample business plans and templates for additional reference. You can also consult a variety of online tools, software, or planning professionals.

For additional information, contact us or visit our business planning FAQs.


Comments

Posted by Canada.ca on October 28, 2016
Bonjour, Salif

Nous vous remercions d’avoir communiqué avec le Réseau Entreprises Canada. Nous sommes toujours heureux de répondre à vos questions sur le démarrage d’une petite entreprise au Canada ou sur l’expansion d’une entreprise existante.

Vous pouvez effectuer une recherche pour des associations canadiennes auxquelles vous pouvez proposer une collaboration ou un partenariat, dans la base de données consultable d’entreprises canadiennes, le Réseau des entreprises canadiennes.

Pour obtenir des renseignements sur le secteur agricole canadien, veuillez consulter la page Industrie, marchés et commerce sur le site Web d’Agriculture et Agroalimentaire Canada.

Pour prendre connaissance des avantages à investir au Canada, veuillez consulter notre page Investir au Canada.

Pour obtenir des renseignements supplémentaires sur le démarrage ou l'expansion d'une entreprise au Canada, communiquez avec Entreprises Canada. Merci.
Posted by Canada.ca on October 28, 2016
Bonjour, Dominique

Nous vous remercions d’avoir communiqué avec le Réseau Entreprises Canada. Nous sommes toujours heureux de répondre à vos questions sur le démarrage d’une petite entreprise au Canada ou sur l’expansion d’une entreprise existante.

Dans la section Planification de notre site Web, vous trouverez plusieurs ressources pour la rédaction de votre plan d’affaires, y inclus des modèles de plans d’affaires et gabarits.

Sur notre page Études de marché et statistiques, vous trouverez également des renseignements et des statistiques qui pourraient vous être utiles dans la préparation de votre plan d’affaires.

Pour obtenir des renseignements supplémentaires sur le démarrage ou l’expansion d’une entreprise au Canada, communiquez avec Entreprises Canada. Merci.
Posted by dominique on October 27, 2016
Aimerais de l aide pour mon plan d affaire pour demarage j aimerais avoir par courriel une copie pour faire mon plan d affaire merci
Posted by Canada.ca on October 26, 2016
Hello Griselda,

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

If you’re thinking of expanding your business operations to Canada, the Invest in Canada website offers information on our industries and regions and what you need to do to start a business in Canada.

You can use the Canadian Company Capabilities (CCC) database to find Canadian businesses that may be interested in partnering or collaborating with your company. Canadian Company Capabilities (CCC) is a database that can help you find and connect with companies across Canada and includes hundreds of specialized manufacturing, service, and product-specific business directories that you can search to find potential business partners.

On our Site selection page, you will find tools and resources that can help you determine the best location in Canada to open your business.

You will also find statistics and analysis on the manufacturing sector on our Manufacturing page .

If you have further questions about starting or growing your business in Canada, please contact Canada Business. Thank you.
Posted by Salif on October 26, 2016
Je suis Directeur Général de l'Office Riz Segou (ORS)
Dans le cadre du développement de la culture Riz, je voudrai appuyer une association féminine pour la transformation et la commercialisation du riz.
Mon problème comment le marché va tirer ma production.
Posted by Griselda on October 25, 2016
I have a manufacture company dedicated to the manufacturing tools for oil industry.
Actually we export to USA, Saudi South Arabia, Canada, SIngapore, France and we have the new project in Colombia.
In Mexico we sell our products for the companies who's manufacture tubes for the extraction of oil.
We are interesting for establish a company in Canada and work toghether with the companies that are located in Canada like Calgary, Newfoundland and Paradise.
We have more than 30 years in the industry.
We are a MExican Company.
How can we get extra information about to establish a company in Canada?
We are very interested.
Best Regards
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