Wednesday, August 18, 2010

The power of a business plan

The Small Business Administration's latest lending statistics for major loan programs show a slight uptick in the number of startups that have been funded this year.

Through Aug. 13, the SBA has funded 9 percent more startups than this time last year under two of its most popular lending programs, the 7a loan and the America's Recovery Capital Loan. Bankers and small business consultants always reinforce the importance of a strong business plan, especially in this economy, as entrepreneurs seek funding.

As entrepreneurs most often focus on funding, the assistance that's often overlooked is educational resources. At, there are a series of free tools to help startups write a business plan. Under the Small Business Planner tab, you'll find a host of information on how to write a business plan, including a detailed, step-by-step guide as well as a free online audio tutorial with a slideshow presentation.

A business plan is essential a roadmap on how to develop and operate your company so don't overlook this valuable resource.

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