three.ie business plan

Cookies on citizensinformation.ie

We use cookies to collect information about how you use citizensinformation.ie. This helps us to improve your experience. You can find out more about the cookies we use in our Cookie notice . You can also read our Privacy policy . You can accept all cookies or you can chose which cookies to accept or reject. You can change your cookie preferences at any time by using the My cookie preferences link at the bottom of each page.

Cookie preferences

Cookies used by google analytics.

We use Google Analytics to measure how you use the website so we can improve it. We have configured Google Analytics to anonymise your IP address so that you are not personally identified. We gather information on:

• How you got to the site
• The pages you visit on citizensinformation.ie, and how long you spend on each page
• What you click while you are visiting the site

How to write a business plan

What is a business plan, what to include in your business plan, guides and templates, more information on starting a business.

A business plan is a document that outlines your business goals and how you expect to achieve them. If you are starting a business, you will need a business plan to approach a financial institution for a loan, apply for a small business grant, or pitch to investors.

There is no standard format when writing a business plan. You can include any information that you consider important for your business. It is recommended that at a minimum, your business plan should include:

An executive summary

This is where you describe your business and why you think it will succeed. It must show that a market exists for your product or service. You should explain how you plan to market the business to customers.

Your business and products

This section should include your main products and services, the legal status of the business and your long-term business goals.

Market research

Include any market analysis you have completed and your sales strategy. You should also include the price of your product or services.

Management and organisation structure

This section should include an outline of the management structure of the business. Include any requirements in terms of staff, equipment and machinery.

Financial plan

This section should include projections for expected income and costs, and your funding requirements.

There is no fixed template for setting out your business plan. Each bank or support institution may have their own template.

You can use the outline of a business plan for start-ups and micro businesses on the Local Enterprise Office website.

You can also go to Enterprise Ireland for information on business strategy frameworks .

Teagasc has a workbook to help prospective farmers organise their ideas , before they develop a full business plan.

Find more guides and supports for developing a business plan from the following organisations:

• Local Enterprise Office
• Failte Ireland (pdf)

You may also want to get advice from the representative body for your specific sector .

Read about how to decide on the legal structure of your business and how to get funding .

You may also want to read about registering your business name , and how to pay tax as a self-employed person .

See a list of websites, organisations and public bodies who can give information on starting a business .

Enterprise Ireland

Enterprise Ireland, East Point Business Park The Plaza Dublin 3 D03 E5R6

Related documents

• Starting a business when you return to Ireland Overview of information to help you start a business when you return to Ireland. 2114.1328
• Step-by-step guide to setting up a business in Ireland Find out how to set up a business in Ireland, from writing a business plan to hiring employees. 1972.7083
• Coming to set up a business or invest in Ireland Information for foreign nationals on the immigrant investor and entrepreneur schemes. 1971.0887

If you have a question about this topic you can contact the Citizens Information Phone Service on 0818 07 4000 (Monday to Friday, 9am to 8pm).

You can also contact your local Citizens Information Centre .

Manage cookie preferences

Order by phone: 0808 258 0333

• Our network

Buy from our Business sales experts

• 08082580333

Multi-line SIM offer

Buy 3, save £648.

Unlimited data, £10 a month, for 24 months [2]

500GB SIM offer

Get 500GB data for only £7.00 for the first 6 months. £14.00 from month 7.  [1]

iPhone 16 Pro Max

Order the new iPhone 16 Pro Max now and get unlimited data for only £51.00 a month and £50.00 upfront.  [1]

5G Business Broadband

Get unlimited data for only £17.50 a month.  [1]

Each April, Monthly Charge rises by 4.5% [1]

Latest deals

Business SIM only

Business phones

Business Broadband

Connecting businesses across the UK

Imagine how The UK's Fastest 5G Network could connect your business. Find out how we've been boosting businesses across the UK here.  

Chat to our Business Specialists on WhatsApp

Exclusive to Three Business customers. WhatsApp our team to buy business plans or get support on managing your Three Business account during business hours.

• Chat on WhatsApp

New to Three Business? Set up is as easy as 1,2,3.

1. See our Getting Started guide

This tells you everything you need to know about setting up your device and online account.

2. Get an online account

Register today to monitor your balance and bills, choose Add-ons, manage Spend Caps, and more.

3. Get the app

Manage your business account wherever you are, and stay on top of your mobile spending.

• See Business help

Unlimited Data SIM.

Only £18 a month..

Work seamlessly wherever you are, with unlimited browsing, downloads, videocalls and more on a 5G ready SIM.  [1]

Business SIM Only

Browse our range of 5G ready SIMs with great deals on multi SIM packages for your business.

• Browse business SIMs

iPhone 16 for business. Hello, Apple Intelligence.

Create standout content, get groundbreaking privacy protections, and work smarter with the power of the A18 Pro chip. All with a big boost in battery life. [3]

• View iPhone 16
• View all iPhone business deals

Samsung Galaxy S24 Series. New ways to connect.

The awesome power of AI now helps expand your working world, allowing you to connect with colleagues and customers across the globe.

• View S24 Series
• View Samsung business deals

Get more with Three Business

Discover Three+ rewards for business

Download the Three+ rewards app to claim tastier team lunches, after-work cinema trips for less, and exclusive offers on favourite brands. Business life with a few extra plusses.

• See exclusive offers

Why choose Three for Business?

Voted the UK’s Best Network for Business by the Mobile Industry Awards 2023.

According to Ookla, our 5G's the fastest around. [4]

We beat our competitors' prices

Annual Price Increase

Your monthly charge excludes VAT and includes a £5 discount for paying by a recurring method, such as Direct Debit. Each April, your Monthly Charge will increase by 4.5%. Please see an illustrative example below, showing how this would work if your Monthly Charge is £30. Please note this is not a representative example for your chosen plan. For more information,  see  Terms & Conditions | Three .

Monthly Price until March 2024 -  £30.00 Monthly Price from April 2024 to March 2025 -  £30 + £1.35 (4.5% of £30.00) = £31.35 Monthly Price from April 2025 to March 2026 -  £31.35 + £1.41 (4.5% of £31.35) = £32.76

3 Unlimited data voice SIMs - Save £648 Price excludes VAT. +4.5% annual price increase. Unlimited use in the UK only. £10 a month for each SIM when you buy 3 SIMs on a 24 month plan. Price includes £5 monthly discount for paying by a recurring method such as Direct Debit. Saving of £648 over 24 months when you buy 3 SIMs on a Boundless 24 month plan compared to the cost of a single Unlimited SIM over 24 months. Based on SIM price between 18/05/24 and 12/09/24.

500GB 6 months half price SIM 24 Months. Price includes £5 monthly discount for paying by a recurring method, such as Direct Debit. Each April, your Monthly Charge will increase by 4.5%. First 6 months half price at £7 (Ex VAT) remaining 18 months at £14 (Ex VAT). UK usage only.

Apple offers

Apple Intelligence

Apple Intelligence will be available in beta on all iPhone 16 models, iPhone 15 Pro and iPhone 15 Pro Max, with Siri and device language set to US English, as an iOS 18 update in October 2024. UK English support will be available in December 2024. Some features and additional languages will be coming over the course of the next year.

Based on analysis by Ookla® of Speedtest Intelligence® data for Q1-Q2 2024. Ookla trademarks used under license and reprinted with permission.

Three Ireland returns with €100,000 bursary for Grants for Small Business programme

Three Ireland has announced it is once again investing €100,000 into a bursary fund for SMEs as part of its Grants for Small Business programme .

The programme, which is now in its fourth year, has provided Irish SMEs with an investment of over €650,000 by Three since 2021 across products and services, marketing and PR support, as well as access to industry expertise.

This investment will see Three provide funds, connectivity solutions and mentorship to successful applicants. 

Funded by Three Ireland and managed by the small business network and support provider, Enterprise Nation, the programme awards 10 small businesses, a portion of the €100,000 bursary.

This bursary will comprise of €5,000 cash, €5,000 for device and connectivity solutions for each winner, as well as mentoring and support from Three Ireland’s in-house experts.

Padraig Sheerin , judge for Three Ireland’s Grants for Small Businesses programme and Head of SME , Three Ireland, said: “Three prides itself on supporting businesses big and small across Ireland to scale and innovate through our connectivity products and solutions.

“This unique programme enables small businesses to not only avail of funds but also to access a range of hands-on support and mentorship from Three business experts.

“Since Three launched this SME Grant Programme four years ago, we have seen incredible growth from winning businesses and we are so proud of the role we can play in supporting them as they scale.”

Previous winners of the programme include successful growing Irish businesses like Donegal based Pumpskynz which makes accessories for diabetes devices, and Galway-based accessible gaming specialists ByoWave .

Since being awarded a portion of the Three grant in 2021, Byowave have since scaled their business and have become an official partner with Microsoft.

They recently launched their Proteus Controller globally at Gamescom and Byowave have also received further investor funding of €1.5m and continue on their mission to make gaming accessible to all.

Three continues to support these businesses and is proud to announce that Niamh Tallon from Her Sport will also be part of the judging panel this year.

“Winning Three Ireland’s Grants for Small Businesses programme has been invaluable to us in boosting our growth journey,” Tallon said.

“The bursary and business support from Three has helped us to add people to our team, increase brand awareness through more publicity and ensured we have the right tech in place to thrive as a young business.

“I am honoured to be one of the judges this year on the programme as I know how it feels to start your own business and I cannot wait to be inspired by the next generation of businesses coming through the programme in 2024. I encourage all small businesses to enter.”

Sonya Lennon , judge for  Three Ireland ’s Grants for Small Businesses programme and Entrepreneur and Workplace Equality Advocate, said: “Extraordinary young companies get precisely what they need to mould themselves for success through this powerful programme each year.

“I've witnessed that growth in the years I have been involved. If ever there was a reason to apply for this competition, it's the success of those who went before you.”

Photo: Niamh Tallon, founder of Her Sport and winner of the 2021 Three Ireland Grant; Michael O’Dea, Senior Development Advisor, High Potential Start-Ups, Enterprise Ireland; Sonya Lennon, Entrepreneur and Workplace Equality Advocate; Pádraig Sheerin, Head of SME, Three Ireland and Tara Elzingre, Ireland Local Leader at Enterprise Nation.

You Might Like ...

Third of SMEs just about breaking even amid struggles for external finance

National Women’s Enterprise Day attracts record numbers

‘It feels like we are being punished for creating jobs’ - Coffee shop owner

RAI and VFI lead Dáil march to protest lack of SME supports in Budget 2025

61% of businesses think Budget 2025 will support their strategic priorities

Latest news.

Is this former video gamer the real Satoshi Nakamoto - the inventor of Bitcoin?

Musgrave agrees to buy Meath's Healy Supermarkets

Public disinterested in election speculation and unimpressed by Budget - Core

Business insights, you thought david brent was bad... here's what winds us up at the office, no room for team players in ireland's top three most marketable sports stars, numbers employed increased in august but there was a slight fall in the services sector, interview profiles, prof jim macnamara's six strategies for achieving fundamental social change, understanding the hype cycle of new technologies is a key advantage in business, more: trending.

Three Ireland increases its customer base by 500,000 in 2021

Operator continues to invest in business depite 4% fall in company earnings.

Three Ireland said it increased its active customer base to 3.1 million in 2021, a rise of 500,00 over the year.

However, a decline in roaming revenues and an increase in operating expenses and regulatory costs saw the company’s earnings before interest, tax, depreciation and amortisation fall 4 per cent to €188 million.

The operator has continued to invest in the business, with capital expenditure of €114 million during 2021. Some €86 million of this was in its network, bringing the total amount the company committed to its network since 2015 to €628 million.

Chief financial officer Simon Henry said the financial performance was in line with projections. "Margin remained strong despite the full year impact of roaming income reduction and further regulatory cost increases, with overall revenue reduction of 2 per cent to €579 million from €593 million in 2020 with a gross margin reduction of 1 per cent to €445 million from €448 million in 2020," he said.

Facebook removes Zelenskiy ‘deepfake’ video

Lisburn-based Xperience acquires English cybersecurity company Riverlite

Technology and the green glow of Ireland

Could Apple’s new iPad Air replace your laptop?

The gains the company has made in subscribers means it now claims a market share of almost 40 per cent, putting it ahead of Vodafone at almost 36 per cent. That figure includes mobile broadband and machine to machine subscriptions; when those services were excluded, figures from ComReg showed Three Ireland was second to Vodafone, at 30 per cent to its rival's 35.5 per cent.

"In 2021 we delivered a 20 per cent growth in our active customer base of 500,000 to 3.1 million compared to 2020, making us the largest mobile telecommunications provider in Ireland," said Robert Finnegan, chief executive of Three Ireland and Three UK.

“One of Three Ireland’s main priorities is investing €100 million annually into our network to ensure a reliable service for our customers. With this commitment, we have significantly increased our coverage around Ireland, with nearly one million homes now connected with 5G broadband.”

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist

YouTube blocks Russian state-funded media channels globally

Boojum signs deal with start-up sensi to boost recycling, russia’s cyberattack threat: how serious is it and how can you protect yourself, cork to host gathering of business angels investors, irish telecoms company spearline intends to double workforce, mac studio: attention-grabbing power, in this section, children struggling to switch off from online world - survey, meta staff fired for misusing free food vouchers, tsmc’s third-quarter profit jumps 54% on ai boom, google tv streamer 4k review: smartening up your home tv, switching mobile networks here’s how to pay only for what you need and avoid roaming charges, the trials of stephen roche: ‘there are things i’ve done the last few years i’m not proud of’, former cork teacher (90) hailed a hero after being killed while pushing woman out of the way of car, ‘my mother would keep each of her children home from school one day a week so she could get to know us’, cheryl tweedy says death of liam payne is ‘indescribably painful’ as she voices fears over protecting their son, ireland may join european ‘iron dome’ missile defence system, latest stories, ireland weather: state braced for storm ashley as orange warnings expand to new counties, majority of children on spinal waiting list will have surgery or date by end of year - donnelly, israel-hamas war: drone launched toward netanyahu’s home, chelsea represent liverpool’s first major test with arne slot ‘curious’ to see results, what i read this week: adventures in airbnb, more closed restaurants, and one unlucky goose.

Business Today

Get the latest business news and commentary from our expert business team in your inbox every weekday morning

• Terms & Conditions
• Privacy Policy
• Cookie Information
• Cookie Settings
• Community Standards

A brilliant business plan template

If you are starting, running or growing a business, you need a great business plan. download this free template and get started..

Please click below and download this great Business Plan Template:

Need help writing your plan?

If you need a steer as to what to include in your business plan, please read this short but informative guide.

If you are starting out and need funding, click here.

How Spraoi agus Spórt is regenerating rural Donegal

Health Sector 2023 Insights, 2024 Outlook

Latest articles.

Proudly sponsored by

Recommended

How to find a business mentor

How to write a strong business strategy

How to write a great business plan

10 habits for highly effective networking

• Business Stories
• Financial Wellbeing
• Business Insights
• Starting a Business
• Growing Your Business
• Tools & Templates
• Careers & Human Resources
• Sales & Marketing
• Tech & Innovation
• Agriculture
• Food & Drink
• Hospitality
• Manufacturing
• Tech, Media & Telecoms

• Start free trial

Start selling with Shopify today

Start your free trial with Shopify today—then use these resources to guide you through every step of the process.

Business Plan: What It Is and How to Write One in 9 Steps

Business plans aren’t just for entrepreneurs who need to secure funding—they can help you plan and evaluate new ideas or growth plans, too. Find out how to write a business plan and get the most out of the process in this comprehensive guide.

A great business plan can help you clarify your strategy, identify potential roadblocks, determine necessary resources, and evaluate the viability of your idea and growth plan before you start a business .

Not every successful business launches with a formal business plan, but many founders find value in the process. When you make a business plan, you get to take time to step back, research your idea and the market you’re looking to enter, and understand the scope and the strategy behind your tactics.

Learn how to write a business plan with this step-by-step guide, including tips for getting the most of your plan and real business plan examples to inspire you.

What is a business plan?

A business plan is a strategic document that outlines a company’s goals, strategies for achieving them, and the time frame for their achievement. It covers aspects like market analysis , financial projections, and organizational structure. Ultimately, a business plan serves as a roadmap for business growth and a tool to secure funding.

Often, financial institutions and investors need to see a business plan before funding any project. Even if you don’t plan to seek outside funding, a well-crafted plan becomes the guidance for your business as it scales.

The key components of a business plan

Putting together a business plan will highlight the parts of your company’s strategy and goals. It involves several key business plan components that work together to show the roadmap to your success.

Your business plan’s key components should include: 

• Executive summary: A brief overview of your entire plan.
• Company description: An explanation of what your business does and why it’s unique. 
• Market analysis: Research on your industry, target market, and competitors.
• Organization and management: Details about your business structure and the people running it.
• Products or services: A description of what you’re selling and how it benefits customers. 
• Customer segmentation: A breakdown of your target market into different groups.
• Marketing and sales plan: The strategy for promoting and selling your products and services.
• Logistics and operations: An overview of how your business will run its daily activities and manage resources.
• Financials: A complete look at projected income, expenses, and funding needs. 

How to write a business plan in 9 steps

• Draft an executive summary
• Write a company description
• Perform a market analysis
• Outline the management and organization
• List your products and services
• Perform customer segmentation
• Define a marketing plan
• Provide a logistics and operations plan
• Make a financial plan

Few things are more intimidating than a blank page. Starting your business plan with a structured outline and key elements for what you’ll include in each section is the best first step you can take.

Since an outline is such an important step in the process of writing a business plan, we’ve put together a high-level overview to get you started (and help you avoid the terror of facing a blank page).

Once you have your business plan template in place, it’s time to fill it in. We’ve broken it down by section to help you build your plan step by step.

1. Draft an executive summary

A good executive summary is one of the most crucial sections of your business plan—it’s also the last section you should write.

The executive summary distills everything that follows and gives time-crunched reviewers (e.g., potential investors and lenders) a high-level overview of your business that persuades them to read further.

Again, it’s a summary, so highlight the key points you’ve uncovered while writing your plan. If you’re writing for your own planning purposes, you can skip the summary altogether—although you might want to give it a try anyway, just for practice.

An executive summary shouldn’t exceed one page. Admittedly, that space constraint can make squeezing in all of the salient information a bit stressful—but it’s not impossible. 

Your business plan’s executive summary should include:

• Business concept. What does your business do?
• Business goals and vision. What does your business want to accomplish?
• Product description and differentiation. What do you sell, and why is it different?
• Target market. Who do you sell to?
• Marketing strategy. How do you plan on reaching your customers?
• Current financial state. What do you currently earn in revenue?
• Projected financial state. What do you foresee earning in revenue?
• The ask. How much money are you asking for?
• The team. Who’s involved in the business?

2. Write a company description

This section of your business plan should answer two fundamental questions: 

• Who are you?
• What do you plan to do? 

Answering these questions with a company description provides an introduction to why you’re in business, why you’re different, what you have going for you, and why you’re a good investment. 

For example, clean makeup brand Saie shares a letter from its founder on the company’s mission and why it exists.

Clarifying these details is still a useful exercise, even if you’re the only person who’s going to see them. It’s an opportunity to put to paper some of the more intangible facets of your business, like your principles, ideals, and cultural philosophies.

Here are some of the components you should include in your company description:

• Your business structure (Are you a sole proprietorship, general partnership, limited partnership, or incorporated company?)
• Your business model
• Your industry
• Your business’s vision, mission, and value proposition
• Background information on your business or its history
• Business objectives, both short and long term
• Your team, including key personnel and their salaries

Brand values and goals

To define your brand values , think about all the people your company is accountable to, including owners, employees, suppliers, customers, and investors. Now consider how you’d like to conduct business with each of them. As you make a list, your core values should start to emerge.

Your company description should also include both short- and long-term goals. Short-term goals, generally, should be achievable within the next year, while one to five years is a good window for long-term goals. Make sure your goal setting includes SMART goals : specific, measurable, attainable, realistic, and time-bound.

Vision and mission statements

Once you know your values, you can write a mission statement . Your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence.

Next, craft your vision statement : What impact do you envision your business having on the world once you’ve achieved your vision? Phrase this impact as an assertion—begin the statement with “We will” and you’ll be off to a great start. Your vision statement, unlike your mission statement, can be longer than a single sentence, but try to keep it to three at most. The best vision statements are concise.

3. Perform a market analysis

Market analysis is a key section of your business plan, whether or not you ever intend for anyone else to read it.

No matter what type of business you start, whether a home-based business or service-based, it’s no exaggeration to say your market can make or break it. Choose the right market for your products—one with plenty of customers who understand and need your product—and you’ll have a head start on success. 

If you choose the wrong market, or the right market at the wrong time, you may find yourself struggling for each sale. Your market analysis should include an overview of how big you estimate the market is for your products, an analysis of your business’s position in the market, and an overview of the competitive landscape. Thorough research supporting your conclusions is important both to persuade investors and to validate your own assumptions as you work through your plan.

How big is your potential market?

The potential market is an estimate of how many people need your product. While it’s exciting to imagine sky-high sales figures, you’ll want to use as much relevant independent data as possible to validate your estimated potential market.

Since this can be a daunting process, here are some general tips to help you begin your research:

• Understand your ideal customer profile. Look for government data about the size of your target market , learn where they live, what social channels they use, and their shopping habits.
• Research relevant industry trends and trajectory. Explore consumer trends and product trends in your industry by looking at Google Trends, trade publications, and influencers in the space.
• Make informed guesses. You’ll never have perfect, complete information about your total addressable market. Your goal is to base your estimates on as many verifiable data points as necessary.

Some sources to consult for market data include government statistics offices, industry associations, academic research, and respected news outlets covering your industry.

Read more: What is a Marketing Analysis? 3 Steps Every Business Should Follow

SWOT analysis

A SWOT analysis looks at your strengths, weaknesses, opportunities, and threats. 

That involves asking questions like: 

• What are the best things about your company? 
• What are you not so good at? 
• What market or industry shifts can you take advantage of and turn into opportunities? 
• Are there external factors threatening your ability to succeed?

SWOT is often depicted in a grid or otherwise visual way. With this visual presentation, your reader can quickly see the factors that may impact your business and determine your competitive advantage in the market.

Competitive analysis

There are three overarching factors you can use to differentiate your business in the face of competition:

• Cost leadership. You have the capacity to maximize profits by offering lower prices than the majority of your competitors. Examples include companies like Mejuri and Endy .
• Differentiation. Your product or service offers something distinct from the current cost leaders in your industry and banks on standing out based on your uniqueness. Think of companies like Knix and QALO .
• Segmentation. You focus on a very specific, or niche, target market, and aim to build traction with a smaller audience before moving on to a broader market. Companies like TomboyX and Heyday Footwear are great examples of this strategy.

To understand which is the best fit, you’ll need to understand your business as well as the competitive landscape.

You’ll always have competition in the market, even with an innovative product, so it’s important to include a competitive overview in your business plan. If you’re entering an established market, include a list of a few companies you consider direct competitors and explain how you plan to differentiate your products and business from theirs.

For example, if you’re selling jewelry , your competitive differentiation could be that, unlike many high-end competitors, you donate a percentage of your profits to a notable charity or pass savings on to your customers.

If you’re entering a market where you can’t easily identify direct competitors, consider your indirect competitors—companies offering products that are substitutes for yours. For example, if you’re selling an innovative new piece of kitchen equipment, it’s too easy to say that because your product is new, you have no competition. Consider what your potential customers are doing to solve the same problems.

4. Outline the management and organization

The management and organization section of your business plan should tell readers about who’s running your company. Detail the legal structure of your business. Communicate whether you’ll incorporate your business as an S corporation or create a limited partnership or sole proprietorship.

If you have a management team, use an organizational chart to show your company’s internal structure, including the roles, responsibilities, and relationships between people in your chart. Communicate how each person will contribute to the success of your startup.

5. List your products and services

Your products or services will feature prominently in most areas of your business plan, but it’s important to provide a section that outlines key details about them for interested readers.

If you sell many items, you can include more general information on each of your product lines. If you only sell a few, provide additional information on each. 

For example, bag shop BAGGU sells a large selection of different types of bags, in addition to home goods and other accessories. Its business plan would list out those categories and key details about the products within each category.

Describe new products you’ll launch in the near future and any intellectual property you own. Express how they’ll improve profitability. It’s also important to note where products are coming from—handmade crafts are sourced differently than trending products for a dropshipping business, for instance.

6. Perform customer segmentation

Your ideal customer, also known as your target market, is the foundation of your marketing plan , if not your business plan as a whole. 

You’ll want to keep this buyer persona in mind as you make strategic decisions, which is why an overview of who they are is important to understand and include in your business plan.

To give a holistic overview of your ideal customer, describe a number of general and specific demographic characteristics. Customer segmentation often includes:

• Where they live
• Their age range
• Their level of education
• Some common behavior patterns
• How they spend their free time
• Where they work
• What technology they use
• How much they earn
• Where they’re commonly employed
• Their values, beliefs, or opinions

This information will vary based on what you’re selling, but you should be specific enough that it’s unquestionably clear who you’re trying to reach—and more importantly, why you’ve made the choices you have based on who your customers are and what they value.

For example, a college student has different interests, shopping habits, and pricing sensitivity than a 50-year-old executive at a Fortune 500 company. Your business plan and decisions would look very different based on which one was your ideal customer.

Put your customer data to work with Shopify’s customer segmentation

Shopify’s built-in segmentation tools help you discover insights about your customers, build segments as targeted as your marketing plans with filters based on your customers’ demographic and behavioral data, and drive sales with timely and personalized emails.

7. Define a marketing plan

Your marketing efforts are directly informed by your ideal customer. That’s why, as you outline your current decisions and future strategy, your marketing plan should keep a sharp focus on how your business idea is a fit for that ideal customer.

If you’re planning to invest heavily in Instagram marketing or TikTok ads , for example, it makes sense to include whether Instagram and TikTok are leading platforms for your audience. If the answer is no, that might be a sign to rethink your marketing plan.

Market your business with Shopify's marketing automation tools

Shopify has everything you need to capture more leads, send email campaigns, automate key marketing moments, segment your customers, and analyze your results. Plus, it’s all free for your first 10,000 emails sent per month.

Most marketing plans include information on four key subjects. How much detail you present on each will depend on both your business and your plan’s audience.

• Price: How much do your products cost, and why have you made that decision?
• Product: What are you selling and how do you differentiate it in the market?
• Promotion: How will you get your products in front of your ideal customer?
• Place: Where will you sell your products? On what channels and in which markets?

Promotion may be the bulk of your plan, since you can more readily dive into tactical details, but the other three areas should be covered at least briefly—each is an important strategic lever in your marketing mix.

8. Provide a logistics and operations plan

Logistics and operations are the workflows you’ll implement to make your business idea a reality. If you’re writing a business plan for your own planning purposes, this is still an important section to consider, even though you might not need to include the same level of detail as if you were seeking investment.

Cover all parts of your planned operations, including:

• Suppliers. Where do you get the raw materials you need for production, or where are your products produced?
• Production. Will you make, manufacture, wholesale , or dropship your products? How long does it take to produce your products and get them shipped to you? How will you handle a busy season or an unexpected spike in demand?
• Facilities. Where will you and any team members work? Do you plan to have a physical retail space? If yes, where?
• Equipment. What tools and technology do you require to be up and running? This includes everything from software to lightbulbs and everything in between.
• Shipping and fulfillment. Will you be handling all the fulfillment tasks in-house, or will you use a third-party fulfillment partner?
• Inventory. How much will you keep on hand, and where will it be stored? How will you ship it to partners if required, and how will you approach inventory management ?

This section should signal to your reader that you’ve got a solid understanding of your supply chain, with strong contingency plans in place to cover potential uncertainty. If your reader is you, it should give you a basis to make other important decisions, like how to price your products to cover your estimated costs, and at what point you anticipate breaking even on your initial spending.

9. Make a financial plan

No matter how great your idea is—and regardless of the effort, time, and money you invest—a business lives or dies based on its financial health. At the end of the day, people want to work with a business they expect to be viable for the foreseeable future.

The level of detail required in your financial plan will depend on your audience and goals, but typically you’ll want to include three major views of your financials: an income statement, a balance sheet, and a cash-flow statement. It also may be appropriate to include financial data and projections.

Here’s a spreadsheet template that includes everything you’ll need to create an income statement, balance sheet, and cash-flow statement, including some sample numbers. You can edit it to reflect projections if needed.

Let’s review the types of financial statements you’ll need.

Income statements

Your income statement is designed to give readers a look at your revenue sources and expenses over a given time period. With those two pieces of information, they can see the all-important bottom line or the profit or loss your business experienced during that time. If you haven’t launched your business yet, you can project future milestones of the same information.

Balance sheets

Your balance sheet offers a look at how much equity you have in your business. On one side, you list all your business assets (what you own), and on the other side, all your liabilities (what you owe). 

This provides a snapshot of your business’s shareholder equity, which is calculated as:

Assets - Liabilities = Equity

Cash flow statements

Your cash flow statement is similar to your income statement, with one important difference: it takes into account when revenues are collected and when expenses are paid.

When the cash you have coming in is greater than the cash you have going out, your cash flow is positive. When the opposite scenario is true, your cash flow is negative. Ideally, your cash flow statement will help you see when cash is low, when you might have a surplus, and where you might need to have a contingency plan to access funding to keep your business solvent .

It can be especially helpful to forecast your cash-flow statement to identify gaps or negative cash flow and adjust operations as required.

📚 Read more: Cash Flow Management: What It Is & How To Do It (+ Examples)

Why write a business plan?

Investors rely on business plans to evaluate the feasibility of a business before funding it, which is why business plans are commonly associated with getting a business loan. 

Business plans also help owners identify areas of weakness before launching, potentially avoiding costly mistakes down the road. “Laying out a business plan helped us identify the ’unknowns’ and made it easier to spot the gaps where we’d need help or, at the very least, to skill up ourselves,” says Jordan Barnett, owner of Kapow Meggings .

There are several other compelling reasons to consider writing a business plan, including:

• Strategic planning. Writing out your plan is an invaluable exercise for clarifying your ideas and can help you understand the scope of your business, as well as the amount of time, money, and resources you’ll need to get started.
• Evaluating ideas. If you’ve got multiple ideas in mind, a rough business plan for each can help you focus your time and energy on the ones with the highest chance of success.
• Research. To write a business plan, you’ll need to research your ideal customer and your competitors—information that will help you make more strategic decisions.
• Recruiting. Your business plan is one of the easiest ways to communicate your vision to potential new hires and can help build their confidence in the venture, especially if you’re in the early stages of growth.
• Partnerships. If you plan to collaborate with other brands , having a clear overview of your vision, your audience, and your business strategy will make it much easier for them to identify if your business is a good fit for theirs.
• Competitions. There are many business plan competitions offering prizes such as mentorships, grants, or investment capital. 

If you’re looking for a structured way to lay out your thoughts and ideas, and to share those ideas with people who can have a big impact on your success, making a business plan is an excellent starting point.

Business plan types

Business plan types can span from one page to multiple pages, with detailed graphs and reports. There’s no one right way to create a business plan. The goal is to convey the most important information about your company for readers.

Common business plans we see include, but are not limited to, the following types:

Traditional business plans

These are the most common business plans. Traditional business plans take longer to write and can be dozens of pages long. Venture capitalist firms and lenders ask for this plan. Traditional business plans may not be necessary if you don’t plan to seek outside funding. That’s where a lean business plan comes in.

Lean business plans

A lean business plan is a shorter version of a traditional business plan. It follows the same format, but only includes the most important information. Businesses use lean business plans to onboard new hires or modify existing plans for a specific target market. If you want to write a business plan purely for your own planning purposes when starting a new small business, a lean business plan is typically the way to go. 

Nonprofit business plans

A nonprofit business plan is for any entity that operates for public or social benefit. It covers everything you’ll find in a traditional business plan, plus a section describing the impact the company plans to make. For example, a speaker and headphone brand would communicate that they aim to help people with hearing disabilities. Donors often request this type of business plan.

📚 Read more: 7 Business Plan Examples to Inspire Your Own (2024)

7 tips for creating a small business plan

There are a few best practices when it comes to writing a business plan. While your plan will be unique to your business and goals, keep these tips in mind as you write.

1. Know your audience

When you know who will be reading your plan—even if you’re just writing it for yourself to clarify your ideas—you can tailor the language and level of detail to them. This can also help you make sure you’re including the most relevant information and figure out when to omit sections that aren’t as impactful.

2. Have a clear goal

When creating a business plan, you’ll need to put in more work and deliver a more thorough plan if your goal is to secure funding for your business, versus working through a plan for yourself or your team.

3. Invest time in research

Sections of your business plan will primarily be informed by your ideas and vision, but some of the most crucial information you’ll need requires research from independent sources. This is where you can invest time in understanding who you’re selling to, whether there’s demand for your products, and who else is selling similar products or services.

4. Keep it short and to the point

No matter who you’re writing for, your business plan should be short and readable—generally no longer than 15 to 20 pages. If you do have additional documents you think may be valuable to your audience and your goals, consider adding them as appendices.

5. Keep the tone, style, and voice consistent

This is best managed by having a single person write the plan or by allowing time for the plan to be properly edited before distributing it.

6. Use a business plan template

You can also use a free business plan template to provide a skeleton for writing a plan. These templates often guide you through each section—from financial projects to market research to mission statement—ensuring you don’t miss a step.

7. Try business plan software

Writing a business plan isn’t the easiest task for business owners. But it’s important for anyone starting or expanding a business. 

Fortunately, there are tools to help with everything from planning, drafting, creating graphics, syncing financial data, and more. Business plan software also has business plan templates and tutorials to help you finish a comprehensive plan in hours, rather than days.

A few curated picks include:

• LivePlan : the most affordable option with samples and templates
• Bizplan : tailored for startups seeking investment
• Go Small Biz : budget-friendly option with industry-specific templates

📚 Read more:  6 Best Business Plan Software Platforms (2024)

Common mistakes when writing a business plan

Other articles on business plans would never tell you what we’re about to tell you: Your business plan can fail. 

The last thing you want is for time and effort to go down the drain, so avoid these common mistakes:

• Bad business idea. Sometimes your idea may be too risky for potential investors or too expensive to run, or there’s no market. Aim for small business ideas that require low startup costs.
• No exit strategy. If you don’t show an exit strategy, or a plan for investors to leave the business with maximum profits, you’ll have little luck securing capital.
• Unbalanced teams. A great product is the cost of entry to starting a business. But an incredible team will take it to the top. Unfortunately, many business owners overlook a balanced team. They focus on potential profits, without worrying about how it will be done operationally. 
• Missing financial projections. Don’t forget your balance sheet, cash flow statements, P&L statements, and income statements. Include your break-even analysis and return-on-investment calculations in your financial projections to create a successful business plan.
• Spelling and grammar errors. All the best organizations have an editor review their documents. If someone spots typos while reading your business plan, sloppy errors like those can evoke a larger sense of distrust in your capabilities to run a successful company. It may seem minor, but legibility and error-free writing helps make a good impression on your business plan’s audience. 

Updating and revising a business plan

Business plans aren’t static documents. The business world moves fast and your plan will need to keep up. You don’t want it to get stale. 

Here’s a good rule of thumb for business plan revisions:

• Monthly: Update KPIs like sales, website traffic, and customer acquisition costs. Review your cash flow. Is your money situation as expected? Make the necessary changes.
• Quarterly : Are you hitting your targets? Be sure to update your financial performance, successful marketing campaigns, and any other recent milestones achieved.
• Yearly : Think of this as a big overhaul. Compare projections to actuals and update your forecasts. 

When updating your plan, don’t just go with your gut. Use data like surveys and website analytics to inform each update. Using outdated information will only lead to confusion and missed opportunities.

Remember not to just update one part of your plan—it’s all connected. Fortunately, with business plan software you can easily give your plan attention and help your business thrive. 

How to present a business plan

Here are some tips for presenting your business plan to stakeholders.

Understand your audience

Start by doing homework on who you’ll be presenting to. Are they investors, potential partners, or a bank? Each group will have different interests and expectations. 

Consider the following about your presentation audience:

• Background: What’s their professional experience?
• Knowledge level: How familiar are they with your industry?
• Interests: What aspects of your plan will excite them most?
• Concerns: What might make them hesitant about your idea?

Depending on who you’re presenting to, you can tweak your presentation accordingly. For example, if you’re presenting to a group of investors, you’d probably want to highlight financial projections and market analysis. 

Structure your presentation

Once you know your audience, you can organize your presentation. Think of this as the story you’ll tell listeners. A well-structured presentation helps listeners follow along and remember key points. 

Your opening should grab attention and give a snapshot of what’s to come. It’s kind of like an elevator pitch that gives an overview of your business idea. 

From there, break your presentation into clear sections:

• Problem: What issue are you solving?
• Solution: How does your business address this problem?
• Market: Who are your potential customers?
• Competition: Who else is in this space, and how are you different?
• Business model: How will you make money?
• Financial projections: What are your expected costs and revenues?
• Team: Who’s involved, and what makes them qualified?

Use visual aids to support your points. Graphs, charts, and even simple illustrations can make your information more digestible. Remember to practice your timing, too. A good presentation flows smoothly, giving each section the right amount of attention for its intended audience. 

Handle objections and questions

Facing objections or questions can be nerve-wracking, but it’s actually a great opportunity. It shows your listeners are engaged and thinking critically about your idea. The key is to be prepared and stay calm. 

Try to anticipate potential questions. Put yourself in the listener’s shoes: What would you want to know if you were them? Come up with clear answers to these questions ahead of time.

When handling questions:

• Listen carefully: Make sure you fully understand the question before answering.
• Stay positive: Even if the question seems critical, respond with enthusiasm.
• Be honest: If you don’t know something, it’s OK. Offer to find out and follow up. 

Use questions as a way to highlight the strengths of your business plan. If a question needs more thought or refresh, it’s perfectly fine to say, “That’s a great question. I’d love to look further into it and get back to you with a detailed answer.”

Handling questions well shows that you’re knowledgeable, thoughtful, and open to feedback—all things that will impress listeners and make them feel confident in your business plan. 

Prepare your business plan today

A business plan can help you identify clear, deliberate next steps for your business, even if you never plan to pitch investors—and it can help you see gaps in your plan before they become issues. 

Whether you’re working on starting a new online business idea , building a retail storefront, growing your established business, or purchasing an existing business , you now understand how to write a business plan that suits your business’s goals and needs.

Feature illustration by Rachel Tunstall

• How to Start a Dropshipping Business- A Complete Playbook for 2024
• The Ultimate Guide To Dropshipping (2024)
• AliExpress Dropshipping- How to Dropship From AliExpress
• How to Start a Clothing Line in 12 Steps (2024)
• How To Source Products To Sell Online
• How To Do Crowdfunding: With Expert Tips and Examples From Successful Campaigns
• How to Start a Candle Business (with Examples)
• What Is Affiliate Marketing and How to Get Started
• Pinterest Marketing 101- How to Promote Your Business on Pinterest
• Getting Started on IG- A Beginner’s Guide to Instagram Marketing

Business plan FAQ

How do i write a business plan.

Learning how to write a business plan is simple if you use a business plan template or business plan software. Typically, a traditional business plan for every new business should have the following components:

• Executive summary
• Company description, including value proposition
• Market analysis and competitive analysis
• Management and organization
• Products and services
• Customer segmentation
• Marketing plan
• Logistics and operations
• Financial plan and financial projections

What is a good business plan?

A good business plan clearly communicates your company’s purpose, goals, and growth strategies. It starts with a strong executive summary, then adequately outlines idea feasibility, target market insights, and the competitive landscape. 

A business plan template can help businesses be sure to follow the typical format of traditional business plans, which also include financial projections, details about the management team, and other key elements that venture capital firms and potential investors want to see.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are: 

• To clarify your plans for growth
• To understand your financial needs
• To attract funding from investors or secure a business loan

What are the different types of business plans?

The types of business plans include startup, refocusing, internal, annual, strategic, feasibility, operations, growth, and scenario-based. Each type of business plan has a different purpose. Business plan formats include traditional, lean, and nonprofit. Find a business plan template for the type of plan you want to write.

The newsletter for entrepreneurs

Join millions of self-starters in getting business resources, tips, and inspiring stories in your inbox.

Unsubscribe anytime. By entering your email, you agree to receive marketing emails from Shopify. By proceeding, you agree to the Terms and Conditions and Privacy Policy .

popular posts

Learn on the go. Try Shopify for free, and explore all the tools you need to start, run, and grow your business.

Try Shopify for free, no credit card required.

• Mission Statement
• Accessibility
• LEO - Dublin City
• Our Services
• Customer Service Charter
• About the Local Enterprise Office Dublin City
• Starting Your Business - Trading less than 18 months
• Growing Your Business - Trading more than 18 months
• Tech Businesses
• Food Businesses
• Craft/Creative Companies
• Sample Business Plans
• Dublin Economic Monitor
• Dublin City Libraries - Market Research
• Support Environment for Entrepreneurs
• Press Releases

Get in Touch

Map Location

[email protected]

01 222 5611

Newsletter sign up  HERE

• Making It Happen
• Which Support is for you?
• Dublin City Boundaries
• 10 Steps to Starting a Business
• Writing a Business Plan
• Business Plan Template
• Start Your Own Business Course
• Companies Registration Office
• Mentoring & Business Advice
• Management Development Programmes
• Business Advice Clinic Presentation
• Network Events
• Network Awards
• Join the Network
• Other Support Organisations
• Get Exporting
• Online Bookings
• Start Your Own Business
• Management Development
• Design & Craft
• Food Industry
• Terms & Conditions
• Lean for Business
• Digital for Business
• Grow Digital
• Green for Business
• Energy Efficiency Grant
• Trading Online Voucher Scheme
• Feasibility Grant
• Business Start Up Grant (Priming)
• Business Expansion Grant
• Grant Eligibility Criteria
• Grant Application - How to Apply
• Microfinance Ireland Business Loans
• Technical Assistance for Micro Exporters (TAME)
• Rersearch, Development, and Innovation (RD&I)
• Eligible Expenses & Application Process
• How to Claim
• Revenue Incentives
• Innovation Vouchers
• Business Angels
• Credit Guarantee Scheme
• Secondary School
• Enterprise Space
• Look for Local
• Why Start a Business in Dublin?
• Enterprise Europe Network
• National Enterprise Awards
• National Womens Enterprise Day
• Social Enterprise
• Circular Economy and Sustainability
• Diversity in the Economy
• FOI - Freedom of Information
• Customer Charter
• Terms and Conditions
• LEO National Website

Dublin City

...Let's talk business

• Starting a Business
• Grow your Business
• Types of Grants
• Useful Info
• Other Capital Options

There are a wide variety of business plan templates available from financial institutions and the banks.  An even greater selection is available on the Internet.  Sometimes, a client has good reason for choosing a particular template.  An example of this is when the bank you are dealing with requests that you use their template.  However, most of the time it is a matter of personal choice.

At Local Enterprise Office - Dublin City, our mentors are happy to work with you using the template you have chosen.  That said, we have developed the template set out below that we find easy to use for start up and micro businesses. 

SECTION 1 - EXECUTIVE SUMMARY

Detail the objectives of the business and the requirements of the business plan.  

SECTION 2 - INTRODUCTION

Summarise the various aspects of the business, which will be later detailed under the headings below. 

SECTION 3 - MARKET

• Size and potential
• Competition
• S.W.O.T. Analysis 

SECTION 4 - MARKET STRATEGY

Section 5 - organisation and management .

• Management Overview
• Staff Requirement 

SECTION 6 - PRODUCTION AND OPERATIONS 

• Plant and Equipment
• Operations Overview 

SECTION 7 - COSTINGS AND FINANCE 

• Financial Assumptions
• Sensitivity Analysis 

APPENDICES 

• Appendix A - Financial Projections  - Yr.1 and Yr.2       - Profit and Loss       - Cash flow       - Balance Sheet
• Appendix B - Certificate of Incorporation.
• Appendix C - Tax Clearance Certificate
• Appendix D - Promoters’ C.V’s.
• Appendix E - Equipment Schedule.
• Appendix F - (Other)

Start or Grow your Business  

• Training for Start Ups

Start or Grow your Business

Training & Events

Financial Supports

Student Enterprise

Enterprise Development

Local Enterprise Office Dublin City

[email protected]      

• Civic Offices,
• Block 4, Floor 1

Opening hours

09:00 - 13:00 and 14:00 - 17:00 Monday - Friday.

Closed 13:00 - 14:00 for Lunch

Map Location   

© 2024 LEO 

You are using an outdated browser. Please upgrade your browser to improve your experience.

Skip to content

DfE Business Plan 2024-25

Date published: 09 September 2024

The Department for Economy’s (DfE) 2024/25 Business Plan provides a forward look over the next three years and sets out what DfE needs to do to deliver growth for the economy in Northern Ireland.

It highlights upcoming key projects and actions that we plan to take including the restructuring of Invest NI so that it is more focused on regional economic development; a Renewable Electricity Support Scheme; a new electricity grid connection policy; an Aviation and Route Development Policy; improved support for people with special educational needs (SEN) after they leave school; and a circular economy strategy.

Help viewing documents

Sorry about that

We can’t process your request right now because of a security issue.