Dear Members & Friends,

If you own a small and medium enterprise (SME) and require a loan from any financial institution, a business plan is usually needed by the financial institution to facilitate the loan processing procedure.

A business plan outlines your vision and objectives for your company along with key strategies that will help you achieve that vision and those objectives. The business plan should be clear, simple and concise enough for the financial institution to understand your business.

* Key areas of a well-written and structured business plan include:

* Business model, product/services, vision and goals

* Current position of company, in relation to financial,
market and competitor (if available)

* Critical success factors for the business

* Financing requirements

* Specific purpose(s) of the loan and in what way the loan can help the business

To start preparing your business plan, make sure you cover the following basic information:

1. Business model, product/services, vision and goals

2. Current position of company, in relation to financial,
market and competitor (if available)

3. Critical success factors for the business

4. Financing requirements

5. Specific purpose(s) of the loan and in what way the loan
can help the business

6. Business strategies

7. Operational requirements

8. Financial forecast

Next Issue - FAQs on SME loan applications and financing.

Disclaimer: This information has been collected through secondary research by S. Rengasamy (Hon. Secretary General, MAICCI). Both S. Rengasamy and MAICCI are not responsible for any errors in the same.


Thank you and best regards.

“TOGETHER WE ACHIEVE EXCELLENCE”

Yours in MAICCI,