A Guide to Starting and
Expanding Your Small Business
in Hants County

BUSINESS PLANNING

A formal business plan can be helpful to you in many ways, but sometimes thorough organization is all you need to run a small business. Many hobby-businesses (like part-time craft production) and professional services (like small law firms, doctor offices, and dental clinics) operate without formal “business plans”. However, written business plans are helpful in many ways.

A business plan:

• Organizes your ideas so you can communicate them to others,

• Forces you to think through your business idea,

• Assists you in obtaining financing (a plan is often required for financing),

• Helps you evaluate the risks involved,

• Provides a roadmap so you can progress logically and not fall off-track.

• Increases chances of business success once established,

• Helps you consider expansion options.

Business plans are prepared for different purposes and, therefore, different readers with different interests. If you are hoping to arrange financing with a certain lender, get information before you prepare your business plan about whether a particular business plan format or outline is preferred. This may save you the work of reorganizing your business information for presentation later.

The following organizations serve Hants County and can help with your planning:

You may also need to consult a lawyer and an accountant for support with particular elements of your planning process. Overall, however, you will be the one writing your own business plan with advice from a variety of sources.