The first thing the Bank Manager will ask of anyone trying to raise cash for a new business venture is for a detailed and well presented business plan. This is hardly surprising - the banks want to know exactly how the money they lend is going to be spent.
BUT even if there is no need for a loan, if the funds are available from hard-earned savings, retrenchment money, pension payments or whatever, a business plan is essential to ensure that YOUR money is going to be wisely spent. The old adage "Failing to plan is planning to fail" is certainly true in business.
