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What do you need to prepare to secure funding?

  • Wednesday, April 17, 2024
  • Posted By Ian Dixon

As part of the funding process, you’ll likely meet with different potential investors, funds or financial organisations, all keen to understand where your business is at. Particularly, they will want to know where you’re looking to be in one, three, five or even ten years. You can prepare a few key things ahead of time to aid these conversations.


Business Plan

Simply put, a business plan is a detailed written description that outlines your business, the market it sits within and how it plans to grow or sustain itself in the future. Although there is no set structure to these plans –it should be tailored to your business. There are some key aspects that any plan should include:

  • Description of your business and how it operates
  • Overview of your management team or senior leadership
  • Market analysis and opportunity
  • Competitor analysis and how you rank
  • Financial performance and projections
  • Growth objectives and strategic plans to achieve these

Business plans are valuable tools in funding conversations as they can clearly demonstrate where your business is at, where it hopes to be over a number of years, and how it plans to get there.

Start creating your plan by using this template.


Integrated Forecasts

This combines a number of different financial reports and measures to build a fuller picture of how your company is currently performing, how it expects to perform over a certain period and support informed decisions about your future financial position. It typically includes your business’ balance sheet profit & loss statements (which you can find out more about in our other guides) and cashflow forecasting. The latter demonstrates how much money you might estimate going in and out of your business over a specific time, setting out incomings and outgoings to help you make informed decisions about your future cash position.


Credit appraisals

These are assessments carried out by banks or other lenders prior to providing loans or finance. Appraisals test a proposed project's commercial, financial, and technical viability, aiming to understand the risks associated with offering a business credit.