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Step 8: Financing

In this part of the business plan you must:

  • Establish if you have the money you need to get started
  • Point out resources where you might find the money you need

In short, financing is the answer to the question “where do I find the money I need to make my business operational?”

Needed capital

The way you calculate the company’s capital requirement is:

Together, the two show the company’s capital requirements. It’s that easy!

Business plan questions

In the business plan template you must relate to the following issues:

Personal resources

The first source of financing you should go to is yourself. Do you have money in the bank, assets placed in buildings or diamonds?
If you believe in your venture, you should use your own funds first. If you don´t, it will be difficult to borrow money elsewhere.

How much money do you have yourself?

Families and friends

Family and friends can be a good source of financing, especially in the early stage of your business when relatively small amounts of money are involved.

Consider borrowing from several people rather than trying to get it all from one person.
Can family lend you money?

Banks and Savings Banks

What do banks require to lend you money to help finance your business start-up?
The best tool to obtain the necessary financing is a detailed business plan.

Based on your personal, establishing, and operating budgets, you can make a cash flow budget or hire an accountant to work it out for you. A cash flow budget shows your expected borrowing requirement in exact figures.

Do you expect to borrow money from the bank?


If you believe that your business constitutes an attractive investment for investors and others with money, you should definitely try to approach them – with your well-made business plan.

Which kind of investors would be appropriate for you?

Public funding schemes

All over the world, different governments like to support entrepreneurs one way or another. They can, in their effort to promote entrepreneurship, set up financing schemes.
The schemes can promote rural development, high tech industry, biotech, the service sector or something different.

Contact your national, provincial or local government. They should know if there are any public funding schemes in your area.

Are there any appropriate funding schemes in your area?

Suppliers giving credits

Maybe you are in a position where you can press your suppliers to give you three to five months on credit? If you are, then they could help you finance your when you start.

Download business plan template

Go to Download Center and find the template in which you can write your own business plan.

Success usually comes to those who are too busy to be looking for it.
- Henry David Thoreau, American author and philosopher

Download Business Plan templates
9 Steps to Start a Small Business
Step 1 Entrepreneur /Team Resources
Step 2 Product or Services
Step 3 Description of the Market
Step 4 Sales and Marketing
Step 5 Organising your Company
Step 6 Business Development
Step 7 Budgets
Step 8 Financing
Step 9 Business Concept
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