Business planning

Your business plan is your means of conveying how ready your business is for investment. We need to be sure of a return on our investment, so your plan should be robust and should include:

Product or service

• What you propose to use our investment for
• The benefits our backing will bring to your business
• Your core product’s USP
• IP or patent protection
• Your core product’s route-to-market

Market demand

• Your target market and how you position your product/company
• Evidence of your relationship with established or potential customers
• Your key competitors and their USP

Growth potential

• Turnover and profit and how you plan to grow them
• Financial forecasts

Management expertise

• Management team's experience of establishing or running a business
• Management team's other experience and qualifications for running the business
• Skills gaps in your management team?

Investment knowledge

• Advice sought from an independent business advisor
• Other potential sources of funding, part of a wider investment package

Supporting information

We consider a number of factors when assessing your application, so we need to see:

• CVs for all business proprietors, directors and partners
• Audited accounts from the last three years
• Copies of bank statements from the last six months
• Projected balance sheet, P&L and cash flow for the next three years
• Recent management accounts and aged debtor/creditor list (if you have them)
• Certificate of Incorporation (if you have one)

Business planning for equity investments

In addition to the above, if your business is applying for investment from the North East Growth Plus Fund, you must describe your exit strategy.