When you decide to start a business of your own, creating a business plan is one of the most important steps you will take. It serves as your road map for the early years of your business. The business plan usually includes details concerning the first 3-5 years and outlines the route a company intends to take to reach its yearly milestones. This includes revenue projections. A well thought out plan also helps you think objectively about the key elements of your business venture and informs your decision-making on a regular basis.
MCE has a business plan portal that provides a step-by-step guide to help you get started. You can enter all the information and a counselor will work with you to be sure your business plan is thorough and well-thought out. This module is intended as a quick overview of the business planning process so you know what to expect as you start to plan your business. You will use your business plan, not only to help guide your decisions in the early years of your business, but also to gain financing if necessary. It is an important document and will help ensure your success. In addition to Maryland Capital Enterprises, there are additional resources available on the Small Business Administration website, or through a resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women’s Business Center (WBC).