When your project idea is starting to take shape, it will help to set the big picture down on paper. There are various approaches to writing a business plan but the general aim should be to set out a proposal to those whose support, financial or otherwise, you need.  This does not need to be a lengthy document but if you break it down into manageable sections as set out below, you should cover all the necessary information. All partners in the project should be consulted.

There is no standard structure for a business plan but the following format should give a coherent picture of your proposal:

Table of Contents

Summary
Explain in broad terms what the project is trying to achieve and how, e.g. whether it is part of a wider strategy or partnership. This should take up one side of A4 - two at most.

Vision, Aims & Objectives
Your vision should describe where you want your group - or those you wish to assist - to be at the end of the project period. The aims will outline what will be achieved through the project, e.g. improved environment for locals and visitors, promoted or strengthened businesses or people advised and trained.

Objectives relate to how this will be achieved, ideally relating to each aim. All this information should be as succinct as possible and ‘SMART’ (specific, measurable, achievable, realistic and time-bound)

Try to explain how you will work with others to realise these objectives, depending on particular resources, skills or knowledge each partner can contribute.

Need for the project
Here you should provide evidence, through reliable research where possible, that your project will offer something new or additional to the area or to a certain group of people.

Statistical background can be obtained from public sector sources, such as our ‘Life in Devon’ web pages or the South West Gateway but these could be complemented by more ‘human’ methods such as local surveys of residents' views or feedback from a seminar or workshop.

It is a good idea to explain how the project fits in with other projects, schemes or strategies, especially those of the organisations you are seeking support from.

Building or capital projects should refer specifically to studies and surveys undertaken, sites identified and costs assessed. Note that the fees incurred in such work may be covered by the grants sought.

Management and delivery
Set out by whom and how the project will be managed. Who will be co-ordinating the project? Where will additional technical support be found? Who may help to promote what you’re doing?

It is important to consider the risks in delivery, some of which will doubtless be out of your control, but be honest with yourself and your potential partners.

Specific elements would be:

• Management team and key employees
• Organisational plan or chart showing roles and relationships
• Details of regular systems or procedures
• Employment policies (even if in formulation)

Financial Plan
The other critical element in your plan is the financial picture. Try separating the detail into:

• Summary of resources, commitments and requirements
• Schedule of proposed costs, defining capital or revenue (running costs) and which are estimated
• Likely or intended sources of income to match those costs, indicating which are confirmed or still being explored/considered.
• Attempt a cash-flow schedule, where for each month or quarter of your project lifetime, it can be clearly seen how much surplus or deficit you may have. You may need professional advice on this, for which your nearest Enterprise Agency would be useful.
• Notes of any assumptions or additional details

Outcomes & Outputs
Summarise the overall benefits (outcomes) the project will bring to the area, alongside the more measurable results (outputs) such as jobs created or courses run. It may help to link these to key milestones within the project, as this is how some funders operate.  Explain how these figures have been reached.

Monitoring & Evaluation
This should detail who will be responsible for keeping a check on progress, either for the overall project or for specific areas, and the procedures that will be enforced.  

Exit strategy
Most public-sector organisations will fund for a certain period of time and therefore funding bodies will expect to see an exit strategy.  This could take several forms depending on the nature of your organisation and project. Examples are:

Income generation – This is probably the most commonly expected method but also the most difficult to achieve. You will need to think creatively about how you could realistically charge for certain facilities or services, whilst maintaining the organisation’s principles and local credibility. You will need to demonstrate financial transparency, to the effect that any profit gained will be ploughed back into the organisation’s work.

Business support - Some local and national firms will consider sponsorship for projects that can increase their market profile, so some form of partnership may be mutually beneficial.