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A business plan is vital to the success of any enterprise. It describes all aspects of your business – what it does, the financing it has or needs, its future plans, and your strategy for making it all work.
Your business plan is useful for you and your employees, but it can also be crucial for obtaining funding, because banks and lenders may want to see one before they decide to fund your business. A basic business plan outline could include the following:
Revise your business plan as circumstances change to keep it updated, and modify it for different readers, such as employees and lenders. Visit the Wells Fargo Works for Small Business® Business Plan Center to access a step-by-step tool to create your own business plan. You can also research industry and competitive insights, and access online learning resources that cover everything you need to create or update your business plan.
Information and views are general in nature for your consideration and are not legal, tax, or investment advice. Wells Fargo makes no warranties as to accuracy or completeness of information, does not endorse any non-Wells Fargo companies, products, or services described here, and takes no liability for your use of this information. Information and suggestions regarding business risk management and safeguards do not necessarily represent Wells Fargo's business practices or experience. Please contact your own legal, tax, or financial advisors regarding your specific business needs before taking any action based upon this information.
Wells Fargo & Company or its affiliates do not provide tax advice. Please see your tax advisor to determine how this information may apply to your own situation.