Having a business plan doesn't guarantee success but it does show that you have depth to your business idea.  The business name and structure (company, trust, sole trader or partnership) are important however the key item to clarify is what you propose your business will do or provide and who will be your customers.

Your motivation for starting the business is important as well. What will drive your business to be successful? What do you bring to the business to ensure its success?  A thorough strengths, weaknesses, opportunities and threats analysis is always good to include as it shows that you have an understanding of the marketplace you want to operate in.

Reviewing the opportunity you have identified and examining how it fits into the current market is critical. Who are your competitors and how do your customers currently deal with the problems you are trying to solve? Who will be the owners of your business? What staff will you require? How do you recruit staff and what will they cost? What infrastructure and equipment do you need? As you can see there are a lot of questions. It is better to have considered all of these aspects of your business while in the planning stage so that you have a clear path for when the business is operating.  If you need any assistance with planning for your business just let us know.