sample business plan uk

Free Simple Business Plan Template

Our experts

Written and reviewed by:.

Our independent reviews are funded in part by affiliate commissions, at no extra cost to our readers.

Your business plan is the document that adds structure to your proposal and helps you focus your objectives on an achievable and realistic target. It should cover every aspect of what your business journey will look like, from licensing and revenue, to competitor and sector analysis.

Writing a business plan doesn’t need to be a difficult process, but it should take at least a month to be done properly.

In today’s capricious business climate there’s a lot to consider, such as the impact of political challenges like Brexit. These details are especially important in today’s bad economy. Investors are looking for entrepreneurs who are aware of the challenges ahead and how to properly plan for them.

Below, you’ll find everything you need to create a concise, specific and authoritative business plan. So let’s get started turning your idea into a reality!

Click here to download your free Business Plan template PDF – you can fill in your own details and those of your business, its target market, your customers, competitors and your vision for growth.

Our below guide will give you detailed advice on how to write a quality business plan, and our PDF download above can give you a clear template to work through.

But, creating an effective business plan needs….planning! That’s where a high quality planning tool can help.

We recommend creating an account with monday to use this tool – there’s even a free trial . Doing so means you can start your entrepreneurial journey on the right foot.

Get the latest startup news, straight to your inbox

Stay informed on the top business stories with Startups.co.uk’s weekly newsletter

By signing up to receive our newsletter, you agree to our Privacy Policy . You can unsubscribe at any time.

What to include in your business plan template

There’s a lot of information online about how to write a business plan – making it a confusing task to work out what is and isn’t good advice.

We’re here to cut through the noise by telling you exactly what you need to include for a business plan that will satisfy stakeholders and help develop a key identity for your brand. By the end, you’ll have a plan to make even Alan Sugar proud and can get started with the most exciting part – running your business.

Throughout this guide, we’ve featured an example business plan template for a new restaurant opening in Birmingham called ‘The Plew’. In each section, you’ll be able to see what the contents we’re describing would look like in a ‘real-life’ document.

What to include in your business plan:

• Executive Summary
• Personal summary
• Business idea
• Your product or service
• Market analysis
• Competitor analysis
• Cash forecast
• Operations and logistics
• Backup plan
• Top tips for writing a business plan
• Business plan template UK FAQs

1. Executive summary

This section is a summary of your entire business plan. Because of this, it is a good idea to write it at the end of your plan, not the beginning.

Just as with the overall business plan, the executive summary should be clearly written and powerfully persuasive, yet it should balance sales talk with realism in order to be convincing. It should be no more than 1,000 words.

It should cover:

• Mission statement  – what is your company’s purpose?
• Business idea and opportunity – what unique selling point (USP) will you provide?
• Business model – how will your business operate?
• Business objectives – what are you aiming to achieve?
• Target market – who is your customer base?
• Management team – who are the owners/senior staff?
• Competition – who are you competing against?
• Financial summary – can you prove the business will be profitable?
• Marketing strategy – what is your marketing plan and associated costs?
• Timeline – how long will it take to launch/grow your new business?

It sounds like a lot – but don’t feel you have to spend hours putting this together. Here’s what the above information for an executive summary might look like when put into our example business plan template for ‘The Plew’:

Startups’ business plan template example: executive summary

2. Personal summary

Investors want to know who they’re investing in, as much as what. This is where you tell people who you are, and why you’re starting your business.

Outline your general contact details first, giving your telephone number, email address, website or portfolio, and any professional social media profiles you might have.

Run through this checklist to tell the reader more about yourself, and put your business ambitions into context.

• What skills/qualifications do you have?
• What are you passionate about?
• What is/are your area(s) of industry expertise?
• Why do you want to run your own business?

Here’s what our two fictional co-founders of ‘The Plew’ might write in their personal summaries for our example business plan. CEO Gabrielle Shelby, has highlighted her expertise in the restaurant industry, while CFO Freya Moore outlines her accounting and finance knowledge.

Startups’ business plan template example: personal summary

Richard Osborne, founder and CEO of UK Business Forums, says personality is important in a business plan.

“Having a strong, personal reason at the heart of your business model will help keep you going and give you the motivation to carry on,” he affirms.

3. Business idea

This section is essentially to offer a general outline of what your business idea is, and why it brings something new to the market.

Here, you should include your general company details, such as your business name and a  one-line summary of your business idea known as an  elevator pitch. This section should also list a few key business objectives to show how you plan to scale over the next 1-3 years.

We also recommend carrying out a SWOT analysis to tell investors what the strengths, weaknesses, opportunities, and threats are for your business idea. Think about:

• Strengths: ie. why is this a good time to enter the sector?
• Weaknesses: ie. what market challenges might you encounter?
• Opportunities: ie. what demand is your product/service meeting in today’s market?
• Threats: ie. how will the business be financed to maintain liquidity?

In the template below, you can see a breakdown of the above information for ‘The Plew’. At the top is its mission statement: “to craft an unforgettable dining experience in a chic atmosphere.”

Startups’ business plan template example: business idea

Need a business idea? We’ve crunched the numbers and come up with a list of the best business ideas for startup success in 2023 based on today’s most popular and growing industries.

4. Your products or services

Now it’s time to explain what you are selling to customers and how will you produce your sales offering.

Use this section to answer all of the below questions and explain what you plan to sell and how. Just like your business idea outline, your answers should be concise and declarative.

• What product(s) or service(s) will you sell?
• Do you plan to offer new products or services in the future?
• How much does the product or service cost to produce/deliver?
• What is your pricing strategy ?
• What sales channels will you use?
• Are there legal requirements to start this business?
• What about insurance requirements?
• What is the growth potential for the product or service?
• What are the challenges? eg. if you’re looking to sell abroad, acknowledge the potential delays caused by post-Brexit regulations.

What insurance and licensing requirements do you need to consider?

Depending on what your business offers, you might need to invest in insurance or licensing. Our How To Start guides have more details about sector-specific insurance or licensing.

Public Liability, Professional Indemnity, and Employers’ Liability are the most well-known types of business insurance. We’ve listed some other common other licensing and insurance requirements below:

In our example product/service page for ‘The Plew”s business plan, the founders choose to separate this information into multiple pages. Below, they outline their cost and pricing, as well as sales strategy. But they also include an example menu, to offer something a bit more unique and tantalising to the reader:

Startups’ business plan template example: product list and pricing strategy

5. Market analysis

This section demonstrates your understanding of the market you are entering, and any challenges you will likely face when trying to establish your company.

This section pulls all of your target market and customer research together to indicate to stakeholders that you are knowledgable about the sector and how to succeed in it.

• Who is your typical customer and where are they are based? Describe the profile of your expected customers eg. average age, location, budget, interests, etc.
• How many customers will your business reach? Outline the size of your market, and the share of the market that your business can reach.
• Have you sold any products/services to customers already? If yes, describe these sales. If no, have people expressed interest in buying your products or services?
• What have you learned about the market from desk-based research? What are the industry’s current challenges, and how has it been affected by the economic downturn?
• What have you learned about the market from field research? (eg. feedback from market testing like customer questionnaires or focus group feedback).

What is your marketing strategy?

Once you’ve highlighted who your rivals are in the market, you can provide details on how you plan to stand out from them through your marketing strategy. Outline your  business’ USP, your current marketing strategy, and any associated advertising costs.

‘The Plew’ identifies its target audience as young, adventurous people in their mid-30s. Because of the restaurant’s premium service offering, its audience works in a well-paid sector like tech:

Startups’ business plan template example: customer analysis

6. Competitor analysis

This section demonstrates how well you know the key players and rivals in the industry. It should show the research you have carried out in a table format.

Begin by listing the key information about your competitors. Don’t worry about sounding too critical, or too positive. Try to prioritise accuracy above all else.

• Business size
• Product/service offering
• Sales channels
• Strengths/weaknesses

Competitors will take two forms, either direct  or  indirect. Direct competitors sell the same or similar products or services. Indirect competitors sell substitute or alternative products or services.

Here’s a breakdown of the strengths, weaknesses, and opportunities, and threats presented by a competitor restaurant for ‘The Plew’ called Eateria 24. At the bottom, the founders have written what learnings they can take from the chart.

Startups’ business plan template example: competitor analysis

Check out our list of the top competitor analysis templates to download free resources for your business, plus advice on what to include and how to get started.

7. Cash forecast

Outline your financial outlook including how much you expect to spend, and make, in your first year

All of your considered costs can be put into one easy-to-read document called a monthly cash forecast. Cash forecasts contain:

1. Incoming costs such as sales revenue, customer account fees, or funding.

2. Outgoing costs such as staff wages or operating expenses. The latter can cover everything from advertising costs to office supplies.

For those firms which have already started trading, include any previous year’s accounts (up to three years) as well as details of any outstanding loans or assets.

Annual cash forecast: what is it?

By conducting 12 monthly cash forecasts, you can create an annual cash forecast to work out when your company will become profitable (also known as breakeven analysis) . You will break even when total incoming costs = total outgoing costs.

In your annual cost budget, make sure to also include month opening/closing balance.  This is important to monitor for accounting, particularly for year-end.

• Opening balance = the amount of cash at the beginning of the month
• Closing balance = the amount of cash at the end of the month

The opening balance of any month will always be the same as the closing balance of the previous month. If you are repeatedly opening months with a negative closing balance, you need to adjust your spending. Here’s an example of what ‘The Plew’s financials might look like in its first year of operation:

Startups’ business plan template example: cash forecast

8. Operations and logistics

Explain how your day-to-day business activities will be run, including key business partnerships around production and delivery.

A.) Production

List all of the behind the scenes information about how your business will operate. Include:

• Management team – who do you plan to hire as senior staff and why?
• Premises –  where will you be based? What will be the cost?
• Materials –  what materials/equipment will you need to make your product/service?
• Staffing –  how many employees will you hire? How much will they cost?
• Insurance – what insurance do you need for production?

B.) Delivery

Detail how your customers will receive your product or service. Include:

• Distribution –  how will you sell your product to customers?
• Transport –  how will you transport the product/service to customers or partners?
• Insurance –  what insurance do you need for delivery?

C.) Supplier analysis

Lastly, you should carry out a supplier analysis.  Write down 2-3 suppliers you plan to use as part of your business operations and evaluate them on factors like location and pricing.

In our example business plan for ‘The Plew’, the founders have chosen to present this information in an easily-digestible chart, breaking down the leadership and employees into two different areas: product development and operations.

Startups’ business plan template example: staffing section

9. Backup plan

Explain how you will manage any surprise losses if your cash forecast does not go to plan.

In the event that your business does not go to plan, there will be costs to incur. A backup plan outlines to potential investors how you will pay back any outstanding loans or debt.

In the short-term: 

If your cash-flow temporarily stalls, what steps could you take to quickly raise money or make savings? For example, by negotiating shorter payment terms with your customers.

In the long-term:

If you’ve noticed a drop in sales that seems to be persisting, what changes can you make that would improve cash flow longer term? For example, can you do more of your business online to reduce rent fees?

To placate investors even further, it’s a good idea to include details about potential support channels you can utilise (eg. a business network or contact) who might be able to help if you get caught in a sticky cash-flow situation.

Startups’ 5 top tips for writing a business plan

• Keep your predictions realistic. Your business plan should showcase your knowledge of the sector and what’s achievable. It’s not about impressing investors with big numbers or meaningless buzzwords.
• Don’t go over 15 pages. Business plans should be engaging, which means sticking to the point and avoiding a lot of long-winded sentences. Keep your executive summary to less than 1,000 words, for example.
• End with supporting documents. Use your appendix to include product diagrams or detailed research findings if these are helpful to your business case.
• Get a second pair of eyes. Everyone misses a spelling error or two – invite a trusted business contact or associate to look over your business plan before you send it anywhere.
• Leave enough time to write! It’s exciting to think about getting your business up and running – but planning is an important step that can’t be rushed over. Spend at least a month on writing to get all the details correct and laid-out.

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have practical resources for helping new businesses get off the ground – use the tool below to get started today.

What Does Your Business Need Help With?

Designing a business plan is very important for laying the foundation of your business. Ensure you spend an appropriate amount of time filling it out, as it could save you many headaches further down the line.

Once your plan is complete, you’ll then be ready to look at other aspects of business set-up, such as registering your company. Sound daunting? Don’t worry!

Our experts have pulled together a simple, comprehensive guide on How to Start a Business in 2024, which will tell you everything you need to know to put your new plan into action.

• Can I write a business plan myself? Absolutely! There are plenty of resources available to help, but the truth is a business plan needs to reflect the owner's personal ambitions and passion - which is why entrepreneurs are best-placed to write their own.
• How long should a business plan be? We recommend your business plan is kept to a maximum of 15 pages. Keep it short and concise - your executive summary, for example, should be no more than 1,000 words.
• Is it OK to copy a business plan? While not technically illegal, copying a business plan will leave you in a poor position to attract investment. Customising your plan to your unique business idea and industry specialism is the best way to persuade stakeholders that you have a winning startup formula.

Startups.co.uk is reader-supported. If you make a purchase through the links on our site, we may earn a commission from the retailers of the products we have reviewed. This helps Startups.co.uk to provide free reviews for our readers. It has no additional cost to you, and never affects the editorial independence of our reviews.

• Essential Guides

Written by:

Leave a comment.

Save my name, email, and website in this browser for the next time I comment.

We value your comments but kindly requests all posts are on topic, constructive and respectful. Please review our commenting policy.

Related Articles

Small Business UK

Advice and Ideas for UK Small Businesses and SMEs

Example business plans

Put together your business plan with our tips.

Where can I find an example of a business plan?

If you’re preparing to write your first business plan and are looking for some useful resources and advice on what elements to include you have come to the right page.

It is essential to have a realistic, working business plan when you’re starting up a business. We have our own section devoted to business planning where there are lots of articles and links to information on writing business plans . The content can show you how to prepare a high quality plan using a number of easy-to-follow steps but also contains more specialist information to help you really fine tune your document, plus advice on presentation and targeting.

If you are specifically looking for advice as a franchisee, check out our article on the 11 things you need to include in a franchise business plan .

There are a range of other sources you may also want to use. An often overlooked source is your Bank who may well have information, examples and templates of business plans:

• Barclays template and checklist [pdf]
• Lloyds sample plan [downloadable pdf – see section 4]

The Prince’s Trust offers downloadble pdf, MS Word and Excel templates . They also offer personal advice on completing a plan through their Enterprise programme if you are selected to work with them.

Slideshare has lots of business plans uploaded, which you can browse through here . We liked this thorough 26 page example from The Business Plan Team , as well as a template created by former Deloitte Management Consultants here , and a good example of a colourful, visual plan suitable for a trendy food business here .

An interesting interactive free business plan creator is offered by LawDepot . On the website you are stepped through 7 simple steps using a well-designed graphic interface, and at the end you can output the subsequent plan ready to fill in. There are 12 industries to choose from and it has sections for company structure, product, marketing, SWOT, operations and ‘Fine Details’.

Other Web Resources: Business Plan Templates

You can find examples of business plans for different types of businesses at:

• ACCA – the Association of Chartered Certified Accountants have 3 example business plans for three different business sectors: Cafe, Import Business, UK Ltd business seeking finance.
• Bplans – owned and operated by Palo Alto Software Inc., the site has free plans to download and it also has examples for lots of different types of individual or specific market sectors.
• Expert Hub – based in South Africa, this site has 21 example business plans for different categories.
• Start Up Loans – offer a downloadable .docx template.
• Invest Northern Ireland – have a .doc business plan template to download here
• StartUps.com – have four sample plans that you can access from Google Drive (note, this is a USA site so the examples are US-based, although the formats could still work for a UK business).
• Examples.com – 20+ example downloadable .pdf plans for different sectors.

Finally, how about a video on the subject? Quite a few examples on Youtube.

How about this one from Craig Frazier?

Further reading on business plans:

• Advice and the basic tips of writing a business plan
• A check list of what should be in your business plan

Related Topics

Leave a comment.

You must be logged in to post a comment.

Related Stories

Business Ideas & Planning

The best business ideas for 2024 

From going solo as a private chef or graphic designer to launching a nursery or your own food growing enterprise, we’ve got a range of ideas for everyone

Lucy Wayment

How to start a dog walking business

For those who love pooches and want to set up a dog walking business, check out this guide to learn more about how to do it

Anna Jordan

A small business guide to self employment

Being self-employed means, you are captain of your own ship. But there are key decisions to make before you quit full-time employment, unless you want your ship to run aground

Best business ideas for 2024: Vehicle leasing host

Our cars spend 96% of their time sitting on a driveway, so being a vehicle leasing host could bring in plenty of passive income.

Dom Walbanke

Best business ideas for 2024: Third culture cuisine  

Anyone with even a passing interest in the UK’s culinary scene will know that most food trends rise and fall as fast as a soufflé. But third culture cuisine looks set to stay in 2024.

Henry Williams

• Accessibility statement [Accesskey '0'] Go to Accessibility statement
• Skip to Content [Accesskey 'S'] Skip to main content
• Skip to site Navigation [Accesskey 'N'] Go to Navigation
• Go to Home page [Accesskey '1'] Go to Home page
• Go to Sitemap [Accesskey '2'] Go to Sitemap
• Private Banking
• International Banking
• Lloyds Bank Logo

Help and support

Supporting your banking needs

View all help & support

Making payments

• Cancel a Direct Debit
• Set up a standing order

Make a payment

Online banking

• Log on to Online for Business
• I’ve locked or forgotten my PIN
• Online for Business card reader

Account management

• Manage account access
• Close an account
• Change your business address

Taking payments

• Terminal problems
• PCI and security
• Upgrade your terminal
• Apply for a Business Debit Card
• View your Business Debit Card PIN
• Order a replacement debit card

Security and fraud

• Lost or stolen Business Card
• Lost or stolen Corporate Card
• Report fraud on a business account

Popular help queries

• Change who can access your account
• Find your IBAN and BIC
• Report fraud on online banking

More support

• Accessibility and disability
• Support through financial difficulty
• Help with bereavement

Our online services

View all online banking

• Online for Business
• How to register
• Mobile banking
• What you can do online
• Online payment control

Other online services

• Commercial Banking Online

Accounting software

• Invoice Finance Online
• Lloyds Online Trade Services (LOTS)
• Cardnet reporting tools

Find out more

• Other ways to bank
• How to log on to Online for Business
• Manage access to Online for Business

Accounts and savings

Everyday banking and payments

Business accounts

• Apply for a Business Account
• Switch to Lloyds Bank
• Treasurer’s account
• Client account
• School account
• Credit Union account
• Foreign Currency Account
• Instant Access Account
• Fixed Term Deposit
• Notice Accounts
• International payments
• Bulk payments
• Bacs payments
• Faster payments
• Embedded Payments
• CHAPS Payments
• Business Finance Assistant

View all products and services

Business account holders

• Manage your account
• Product terms and conditions

Savings Strategy Tool

Loans, cards and finance

Business loans

• Small business loans
• Commercial Mortgages
• Government-backed loans
• Credit Card
• Charge Card
• Card solutions (£3m+ turnover)

Asset Finance

• Business Hire Purchase
• Business Car Finance

Invoice Finance

• Selective Invoice Finance
• Invoice Factoring
• Invoice Discounting

International trade lending

View all borrowing options

• How to get a business loan
• Lending support and standards
• Lending appeals

Invoice Finance customers

• Existing customer login
• Debtor protection
• Asset Based Lending

Take payments

Card readers and online

Take payments with Cardnet®

Card readers

• Mobile card readers
• Portable card machines
• Countertop card machines
• Clover card machines

Online payments

• Hosted payments page
• Integrated payment page
• Pay by link

Over-the-phone payments

Omnichannel payments

Additional services

• Merchant Cash Advance
• Digital ordering solutions
• PCI DSS compliance
• Dynamic Currency Conversion

Existing customers

Cardnet existing customers

• Log on to your reporting tool
• Cardnet guides & resources
• Cardnet help & support

Accept card payments with our wide range of face-to-face solutions.

• International trade

Business at home and abroad

International & domestic trade

• Bonds & Guarantees
• Documentary Collections
• Letters of Credit
• Trade Finance
• Receivables Purchase

International cash management

• International Payments
• Foreign Exchange
• Currency Accounts

Existing trade customers

• International Trade Portal
• International rates and charges
• Login to LOTS
• Open Account Platform
• Trade Tracker

Find the right cover

Business Insurance

Public Liability Insurance

• Landlord Insurance
• Professional Indemnity Insurance
• Shop Insurance
• Office Insurance
• Cyber Insurance
• Café Insurance
• Salon Insurance
• Surgery Insurance
• Working from Home Insurance
• Fleet Insurance
• Pubs and Restaurants Insurance
• Business Insurance guides
• Retrieve an insurance quote

Help protect your business from legal fees and compensation costs if a customer, client or other third party makes a claim against you.

Business guidance

Start-up, manage and grow

Start your business

• Financing a startup

How to write your business plan

• Ways to improve cash flow
• Name and set up your business
• Steps to starting a business

Manage your business

• Employment law
• Mental health in the workplace
• Disability in the workplace
• Payroll systems
• Business continuity planning

Grow your business

• International Commercial Terms
• Making international payments
• Finding the right property
• Building customer relationships
• Business sectors
• Agriculture
• Charities & not-for-profits
• Manufacturing
• Real Estate & Housing
• Legal Services

Useful resources

Insights and resources

• Sustainability
• Supporting Black-owned business
• Women-owned businesses​
• Managing business costs
• Latest insights
• Business guides
• Recent case studies

Good things are happening in British business

Find out how some of our customers have evolved their businesses in innovative ways.

Corporate solutions

For corporates & institutions

View all corporate solutions

• Card solutions
• Working capital
• Liquidity and accounts
• Risk management

Corporate sectors

• Consumer & Technology
• Infrastructure, Energy & Industrials
• Real Estate and Housing
• Higher Education
• Services & Public sector
• Sponsors, Debt & Structured Finance
• Sustainability & ESG Financing
• Financial Services

Online services

• Online Trade Services

Insights for corporates and institutions

Find the latest insights, reports, expert commentary and client case studies.

• Search Close Close

Internet Banking

Keep me secure

• Resource Centre
• Business Guides

Read time:   5 mins         Added:   26/05/2023

A compelling and comprehensive business plan is an important asset for any business. It helps you to understand where you are now and where you want to be - then sets out how you intend to get there. If you need funding for your business, a detailed business plan can help give lenders or investors the confidence to invest.

5 things you’ll learn from this guide:

1. Why you should write a business plan

2. What to include in your plan

3. How to set SMART objectives

4.  How to develop your strategy

5.  The importance of financial forecasts

Why you should write a business plan

What to include in your plan.

• How to set SMART objectives
• How to develop your strategy
• The importance of financial forecasts

The process of writing a business plan forces you to explore your business idea in detail and identify what you need to do to make it happen. It will quickly show up any flaws or potential stumbling blocks, allowing you to make your mistakes on paper rather than in your actual business.

A well-thought-out business plan will:

• set a direction for the business and help you create an action plan
• help you and your staff focus on what's important
• show your commitment to banks, investors, colleagues and employees
• help you to spot problems early on and tackle them effectively
• set targets and evaluate your success
• help you attract better-qualified staff

Business planning isn't just for when you're setting up – you should keep reviewing and updating your plan regularly. A plan is always a useful asset for persuading others to invest time, money and effort in your business, and keep your plans on track.

There are some key elements of a business plan:

Executive summary While this comes first, you should write it last. It’s a concise summary of all the key information in the full plan, and is your elevator pitch on paper.

Mission statement What is the purpose of your business – what problem are you aiming to solve for customers? You need to outline what you want your business to achieve, apart from making a profit.

Objectives How do you want your business to be performing in a year, and five years? You need to define your measures of success, making sure they are SMART.

S.M.A.R.T. Objectives

Objectives should meet each of these criteria:

Specific Outline clearly what is required in a simple statement.

Measurable Include some type of metric that will enable you to monitor progress and know when the objective has been achieved.

Achievable The objective should be challenging, yet grounded in business reality.

Relevant The focus should be on achieving the outcome, not the means of doing so.

Time-Bound There should be a target date by which the objective must be achieved.

Your strategy

Your strategy outlines how you intend to achieve your objectives. It details both the environment you’re operating in, and how you operate in it.

It’s vital that you understand who your potential customers are, and what they want. Alongside that, you should research who your competitors are  - not just businesses that do the same as you, but those that meet your customers needs in a different way too (indirect competitors). Our Understanding your market guide has more information.

You also need to be aware of the external opportunities and threats for your business. Economic conditions, changes in legislation and new technologies can all have an impact on your business. You should identify any which are relevant to your business and outline how you will respond to them.

Lloyds Bank business customers have access to Business KnowledgeBox as part of Internet Banking, which contains guides to setting up and running over 500 types of business and includes key market trends and issues, and trading and compliance considerations. 

Our customers also have access to the Lloyds Bank International Trade Portal which provides a gateway to explore international trade opportunities and detailed market information.

You’ll also need to outline how you’ll operate including:

• Who your suppliers will be
• The staff, facilities and equipment you’ll need
• How you’ll promote your product or service 

Your Budget

Financial forecasts will help you, as well as potential lenders or investors, to understand if you have a viable business. You should provide details of your financial forecasts – how much you’ll sell and what the costs will be. Outline where the start-up funds will come from, and at what point you’ll need further investment for growth. 

Key figures you need to capture are:

• Sales forecasts
• Costs and overheads – staff, facility, energy
• Assets – any significant company property
• Investments, loans and grants A breakdown of costs, including tables detailing:
• Start-up costs
• Projected cash flow
• Projected profit and loss
• Projected balance sheet

You can also find more information and a range of business plan templates and examples at www.gov.uk .

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk

Important legal information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Eligible deposits with us are protected by the  Financial Services Compensation Scheme  (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.

• Login / Register

Already a member?

Remember Me

Login Forgot password?

Want to become a member?

What are you looking for, how to write a business plan uk | free uk business plan template.

• Brought to you by AAT Business Finance Basics

• 1. What is a business plan?
• 2. Download: Free UK business plan template
• 3. Getting started on a business plan
• 4. How to structure a business plan step-by-step
• 5. Business plan examples
• 6. Business plan writing tips

You’ve got the brilliant business idea, you might have even started setting up or running your business, but writing a business plan and creating business proposals are vital for the launch and growth of any venture. It’s a document where you can organise all your ideas, create a company description, make sure that you’ve considered and researched everything, and ultimately decide that the business is viable. Commitment to making a business plan is a commitment to the business. Read our guide and download your free business plan template. 

What is a business plan?

A business plan is a document that details all the future plans and predictions for your business. It will explain your ideas, map out how they’ll be put into practice and provide relevant information and facts including the business details, management plan, operating plan, marketing and sales strategy , financial projections, and operational and team specifics.  

A business plan is essential in helping you: 

The business plan is a living, working document that should be read and reviewed regularly. If there are multiple directors or partners in the business then they should all be in agreement with what the plan outlines, the detailed information in the plan, and what is written in the plan. You will also need to share it with potential investors. The business plan will formalise all the ideas and assumptions, keep you focused, and ensure that everyone is on the same page.

How long writing your business plan should take will depend on your business size, the complexities of it and what stage you’re at. The most important thing is that it’s user-friendly and doesn’t include any waffle. Get straight to the nitty-gritty so that your stakeholders are engaged when reading it and so that you are more likely to use and update it regularly. Your business plan will probably cover the first three to five years. It’s important to include all the right information (see the checklist below) but it’s not a document to spend too long on. It’s more important that you are spending time running the business.

There are lots of business plan examples out there but typically yours should include: 

• What your business will do 
• The business structure and operations  
• Team members and their expertise 
• Market analysis to see current and projected state of the market and industry
• How your business will sell and market  
• Startup costs and funding required 
• Financial projections 
• Legal requirements 

Writing a business plan will allow you to take a step back and look at the business more objectively, predicting potential issues in advance, such as financial forecasts, and coming up with solutions or a shift in how you originally thought that you would do something.

Download: Free UK business plan template

We want to take the stress out of writing a business plan. Our free downloadable UK business plan template will guide you on everything you need to include and get your business primed for success. 

Download: Please login or register to get your download.

Login or Register

Getting started on a business plan

Before you begin to make your business plan, keep these three things at the forefront of your mind. 

Focus on what makes you unique

Be creative with your plan, shout about your unique selling proposition (USPs) and what makes you different. Represent your brand using language and visuals, and talk about why you and your team are best to run this business.

Don’t over complicate it

Keep it concise so that you can get on with running the business and so the business plan is an easily readable and usable document. Too much detail in the plan can become confusing.

Be realistic and honest

The business plan will give you an indication of where you’re supposed to be. Review it every few months, update it as you go and change your activities in line with it. It will be impossible for you to predict everything so just give it your best shot and be prepared to be flexible.

How to structure a business plan step-by-step

The business plan should follow this format with these six sections. 

You must be logged in to use this checklist

The executive summary should always be written last. Think of it as a one-pager giving an overview of all the best bits of your plan. If the executive summary doesn’t captivate and interest the reader then it’s unlikely that they will read the rest of your plan. 

Describe your what, where, who and why - including your product/service, brand, location, business model and size. 

This section will involve the most amount of research as you study the current and projected conditions of the market and the industry, and look at what your competition is doing , before making your own marketing plans . 

Explain the experience, skills and credentials of all the people involved. Why are they the right people to make this a success?

Detail your required facilities, premises, systems and software. 

This section translates everything into numbers - your startup and running costs, funding , revenue projections with a cash flow forecast . 

Business plan examples

Take a look at these business plan sections in more detail to see examples of the sort of details you should include, depending on your type of business.

1. The executive summary

Give a topline description of:

• In the most basic terms, what is the business? Is it a product or service? What does it do and how?
• Why is there a need for this business?
• What does this business do better than similar existing businesses?
• What experience or skills do you have that will help make this business a success?
• How will it make money?
• Who will your customers be?
• Who are your main competitors?
• How will people find out about you?
•  What is the opportunity for investors?

2. Business details and description

• Describe your what, where, who and why – including your product/service, brand, location, business model and size.
• Food (lunch / dinner)
• Private hire for meetings / parties / events
• Putting on own events (music, comedy)
• Classes (e.g. cocktail making)
• What will the legal structure of your company be (LTD, PLC, sole trader, partnership, charity, social enterprise)?

3. Marketing and sales strategy

4. management and employees.

• Who will make up your team and what relevant skills and experience do they have?
• Do you need to employ people?
• What friends/family/business contacts do you have with skills that might be able to help you (preferably for free)?
• Do you need to outsource anything?

5. Operational set up

• What premises do you need? Where will they be? Where will you work from?
• What assets/tools do you require (and which of these do you already have)?
• Are there any licences that you require? Any other legal considerations?

6. Financial plan and projections

Business plan writing tips.

Writing a business plan can take some time and some areas of the plan will be easier to tackle than others. 

• Make initial notes every time you think of something and don’t worry if you can’t cover all points at the start.
• When you are ready to start to write the plan, make sure you use sections and these are in a logical order.
• It is important that your plan is simple, accurate and easy to follow if you are going to ask others to look at it.
• Try to avoid jargon or terms that only people in your type of industry will understand.

Share this content

Brought to you by:, aat business finance basics.

AAT Business Finance Basics are a series of online e-learning courses covering the core financial skills every business needs. They draw from AAT’s world-leading qualifications and will quickly build your knowledge on key topics including bookkeeping, budgeting and cash flow.

Recommended reading

How to start a business in 20 days, how do i get funding for a new business, how do i create a business marketing strategy, register with informi today:.

• Join over 30,000 like-minded business professionals.
• Create your own personalised account with curated reading lists and checklists.
• Access exclusive resources including business plans, templates, and tax calculators.
• Receive the latest business advice and insights from Informi.
• Join in the discussion through the comments section.

Login / Register or Subscribe for Updates

HELPING SMALL BUSINESSES SUCCEED

MORE DONUTS:

What do you need to know about starting a business?

• Start up business ideas
• Set up a business
• Skills and wellbeing
• Business planning
• Financing a business
• Tax and National Insurance
• Business law
• Sales and marketing
• Business premises
• Business IT
• Grow your business
• Types of business
• Testing business ideas
• Product development
• Is running a business really for you?
• Start up stories
• Registering as a sole trader
• Setting up a limited company
• Business names
• Buy a franchise
• Buying a business
• Starting an online business
• Setting up a social enterprise
• Small business support

Protect your wellbeing from the pressures of starting and running a business and develop key business skills.

• Dealing with stress
• Manage your time
• Self-confidence
• Write a business plan
• Business strategy
• Start up costs
• Start up funding
• Setting prices
• How to work out tax and NI
• Accounting and bookkeeping
• Licences and registration
• Protecting intellectual property
• Insurance for business
• Workplace health, safety and environmental rules
• Looking after your customers
• Promote your business
• Your marketing strategy
• Sales techniques
• Research your market
• Creating and optimising a website
• Commercial premises
• Premises security
• People management
• Recruitment, contracts, discipline and grievance
• Employment rights
• Hiring employees
• Buying IT for your new business
• Basic IT security
• Preparing for business growth
• How to scale up your business
• Funding business growth
• Start exporting
• Personal development

Business plan template

A well-written business plan is an essential tool for any business. Not only can it help you attract funding, it can also help you test your business idea.

What should I include in a business plan?

Most business plans cover the next 12-36 months and include the following:

• Outline the aims and goals for the business and how the business owner plans to achieve those goals.
• The background of the business
• Introduce the business' management team.
• profit and loss forecasts,
• a breakdown of how much money will be required to set up and run the business,
• sales forecasts,
• pricing strategy.
• Overview of the market the business operates within, the customers the business plans to target and what marketing methods will be used.
• Assessment of comparative strengths, weaknesses, opportunities and threats posed by rivals within that market.
• The last thing to be written is usually the executive summary - which should appear at the front of the business plan. It rounds up all the detailed information contained in the main body of the business plan.

A business plan does not need to be a lengthy document but should provide these key elements.

Business plan templates

These simple and professional business plan templates from Templates.net can help you set out your business idea, plan the road map for your business formation and help you attract funding.

Available in several file formats and easily customizable, these files are a great addition to your template library.

Download the business plan templates (charge applicable).

• Start up business plan
• Simple business plan
• One-page business plan
• Sample business plan
• Business plan outline

Browse topics: Business planning

What does the * mean?

If a link has a * this means it is an affiliate link. To find out more, see our FAQs .

The global body for professional accountants

• Search jobs
• Find an accountant
• Technical activities
• Help & support

Can't find your location/region listed? Please visit our global website instead

• Middle East
• Cayman Islands
• Trinidad & Tobago
• Virgin Islands (British)
• United Kingdom
• Czech Republic
• United Arab Emirates
• Saudi Arabia
• State of Palestine
• Syrian Arab Republic
• South Africa
• Africa (other)
• Hong Kong SAR of China
• New Zealand
• Our qualifications
• Getting started
• Your career
• Apply to become an ACCA student
• Why choose to study ACCA?
• ACCA accountancy qualifications
• Getting started with ACCA
• ACCA Learning
• Register your interest in ACCA
• Learn why you should hire ACCA members
• Why train your staff with ACCA?
• Recruit finance staff
• Train and develop finance talent
• Approved Employer programme
• Employer support
• Resources to help your organisation stay one step ahead
• Support for Approved Learning Partners
• Becoming an ACCA Approved Learning Partner
• Tutor support
• Computer-Based Exam (CBE) centres
• Content providers
• Registered Learning Partner
• Exemption accreditation
• University partnerships
• Find tuition
• Virtual classroom support for learning partners
• Find CPD resources
• Your membership
• Member networks
• AB magazine
• Sectors and industries
• Regulation and standards
• Advocacy and mentoring
• Council, elections and AGM
• Tuition and study options
• Study support resources
• Practical experience
• Our ethics modules
• Student Accountant
• Regulation and standards for students
• Your 2024 subscription
• Completing your EPSM
• Completing your PER
• Apply for membership
• Skills webinars
• Finding a great supervisor
• Choosing the right objectives for you
• Regularly recording your PER
• The next phase of your journey
• Your future once qualified
• Mentoring and networks
• Advance e-magazine
• Affiliate video support
• An introduction to professional insights
• Meet the team
• Global economics
• Professional accountants - the future
• Supporting the global profession
• Download the insights app

Can't find your location listed? Please visit our global website instead

• Example of a business plan
• Business Finance
• Business plans and cashflow
• Back to Business plans and cashflow
• Writing your business plan
• Example of a cashflow

A finance provider will review any business plan submitted; it is essential that your plan relates to your business and you do not rely on a generic document.

A finance provider will review any business plan submitted; it is essential that your plan relates to your business and you do not rely on a generic document. After understanding the requirements of a business plan here is a useful guide from Barclays' which highlights the relevant sections that you need to consider when writing your business plan.

• Barclays Business plan

Here are three further example business plans. The first one is a comprehensive example of a fictitious airport café business looking to open a new site. The second is of a fictitious stone import business looking to cover the shortfall of working capital as they plan to expand and the third is of a fictitious fuel efficiency business looking for debt factoring finance.

• Airport Café

Stone Importers Ltd

Smith Fuel Efficiency Ltd

You can download all of these from 'Related documents'.

Related documents

Download PDF 485KB

Barclays Business Plan

Download PDF 74KB

Airport Cafe Example Business Plan

Download PDF 63KB

Advertisement

• ACCA Careers
• ACCA Career Navigator
• ACCA Learning Community

Useful links

• Make a payment
• ACCA-X online courses
• ACCA Rulebook
• Work for us

Most popular

• Professional insights
• ACCA Qualification
• Member events and CPD
• Supporting Ukraine
• Past exam papers

Connect with us

Planned system updates.

• Accessibility
• Legal policies
• Data protection & cookies
• Advertising

Download Free Business Plan Examples

Download a free business plan in pdf or word doc format to make writing a plan fast and easy, find your sample plan.

Discover the sample plan that best fits your business. Search our gallery of over 550 sample business plans and find the one that's right for you.

View the Gallery

What You'll Get:

A complete business plan Unlike other blank templates, our business plan examples are complete business plans with all of the text and financial forecasts already filled out. Edit the text to make the plan your own and save hundreds of hours.

A professional business plan template All 550 of our business plans are in the SBA-approved format that’s proven to raise money from lenders and investors.

Instructions and help at every step Get help with clear, simple instructions for each section of the business plan. No business experience necessary.

A Word doc you can edit We don’t just have PDF documents that make editing a challenge. Each plan is available in Word format so you can start editing your business plan example right away.

Key Sections Included in our Example Business Plans:

Executive Summary : A quick overview of your plan and entices investors to read more of your plan.

Company : Describes the ownership and history of your business.

Products and Services : Reviews what you sell and what you’re offering your customers.

Market Analysis : Describes your customers and the size of your target market.

Strategy and Implementation : Provides the details of how you plan on building the business.

Management Team : An overview of the people behind the business and why they’re the right team to make the business a success.

Financial Plan : A complete set of forecasts including a Profit and Loss Statement, Cash Flow Statement, and Balance Sheet.

Looking for a sample business plan PDF? You can download a few PDF examples below:

• Accounting and Bookkeeping Sample Business Plan PDF
• Agriculture Farm Sample Business Plan PDF
• Cleaning Service Sample Business Plan PDF

Need a faster way to write your business plan? LivePlan is the #1 planning tool for over 1 million businesses.

Your download should begin immediately

If your download doesn't begin after 5 seconds, please click here .

View our entire gallery of free downloads

Tweet about it

I just downloaded a free business plan from Bplans.com!#smb #startup

Recommended Articles

Recommended Download

You might also enjoy:

The Small Business Toolkit

Access a free list of must–have resources for new and growing businesses in any industry.

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

• 02074940118
• [email protected]

Innovator Founder Visa Business Plan

Anne morris.

• 25 March 2024

IN THIS SECTION

The innovator founder visa is a new immigration route that opened to applicants on 13 April 2023. This replaces the previous innovator and start-up visas, and is now the primary visa category for overseas entrepreneurs looking to set up an innovative business in the UK.

However, even though this route introduces several favourable changes to attract foreign entrepreneurial talent to the UK — including removal of the requirement to invest a minimum of £50,000 and relaxation of the secondary employment rules — any new business venture must still be endorsed by an approved body. This means that all applicants seeking endorsement under the ‘new business’ criteria on the innovator founder route, must produce a detailed and persuasive business plan to demonstrate to the endorsing body that the idea for their proposed UK business is innovative, viable and scalable.

Below we provide some practical guidance on how to write an innovator founder visa business plan, one that will provide the applicant with the best possible chance of successfully securing an endorsement so that they can go on to apply for a visa.

Innovator founder visa: new business criteria

There are three types of endorsement that an endorsing body can given under this route: an endorsement for a new business, for the same business or to support an application for settlement, all with different criteria to reflect the stage at which a business should be at.

However, when it comes to a brand new business venture in the UK, in order to receive that all important endorsement letter — containing a unique reference number to be able to apply for the innovator founder visa — the applicant must satisfy what is known as the ‘new business’ criteria. Under this criteria, the applicant must show that their idea is:

• Innovative: where the applicant has created an original business plan meeting new or existing market needs and/or creating a competitive advantage
• Viable: this business plan is both realistic and achievable based on the applicant’s available resources, where the applicant must have the necessary knowledge, skills, experience and market awareness to be able to successfully run the new business
• Scalable: there must be clear evidence of structured planning, with potential for job creation, together with growth into both national and international markets.

The ‘new business’ criteria are in addition to the various immigration requirements that an applicant will need to satisfy when applying for a visa from UK Visas and Immigration (UKVI), including an English language and maintenance requirement. However, endorsing bodies are perceived as far better placed than UKVI caseworkers to identify innovative business ideas and assess the viability of those ideas in the context of what the applicant can contribute in terms of knowledge, skills, experience and market awareness.

The role of the business plan in Innovator Founder visa applications

To be successful in an application for an innovator founder visa, receiving an endorsement from an approved body is mandatory. The Innovator Founder visa business plan will be critical in securing your business’ endorsement.

The business plan will be used to assess whether your business venture is eligible for endorsement. It is not only the key document in establishing the ‘innovative’ requirement, where the applicant must have an original business plan that meets new or existing market needs and/or creates a competitive advantage, the business plan must also show how the business is both viable and scalable.

Below we set out how to approach these three key criteria — innovation, viability and scalability — within the business plan:

As part of the ‘innovation’ criterion, the applicant must have an innovative business idea to bring to the UK market. When assessing if an application meets this innovative requirement, the endorsing body will consider the following three core principles:

• a business proposition that demonstrates a clear and compelling unique selling proposition (USP). The USP should define and describe what it is about the product(s) or service(s) the business will be selling that differentiates these from its competitors;
• a concept for innovation within the proposed business that demonstrates a business proposition not easily replicable by others ‘and’ can demonstrate reasonable barriers of market entry to otherwise replicating the proposed innovation;
• an innovation element central to the success of the business proposition and one that will be primarily delivered within that business.

Business plan proposals that will not be considered as meeting the innovative standard include where the innovation element and associated research, design or implementation is largely outsourced to a third-party provider or, alternatively, a generic business idea with an only incidental innovation proposition, for example, a cleaning or taxi company “with an app”. The applicant must be able to clearly articulate within their plan what the research and development proposition looks like. They must also demonstrate a strong case for how their idea is new to the market and present a clear route to commercialisation.

As part of the ‘viability’ criterion, the applicant’s business plan must be both realistic and achievable based on the applicant’s available resources. The applicant must also have, or be in the process of actively developing, the necessary knowledge, skills, experience and market awareness to successfully run their proposed new business. In assessing these two core requirements, the endorsing body will consider a number of key questions, including:

• whether the applicant has access to sufficient funds to deliver the proposed business
• whether the supporting financial projections can be credibly defended
• whether the applicant can show that they have the necessary knowledge, skills and experience to credibly deliver the project in question, and
• if there is a credible demand for the business’s proposed product(s) and/or service(s).

The applicant must be able to show that they have undertaken rigorous and credible research around minimum set up costs, such as the price of buying in equipment and operating factory or laboratory space, and have considered and researched market demand and pricing. The applicant must also be able to show that the business will have access to a sufficient level of funding and the financial forecasts can be adequately defended.

Finally, the applicant must show that they and any co-founding entrepreneurial team have the necessary skills, knowledge and/or experience to credibly be capable of successfully developing and delivering the product(s) or service(s) to the UK market.

Scalability

As part of the ‘scalability’ criterion, the endorsing body will consider the following:

• evidence of structured planning demonstrating a credible path to business growth
• potential for ongoing high quality and skilled job creation
• scope for growth into both national and international markets
• projections based on credible market and other research.

The applicant must be able to show that they have completed their market research and have evidence of the demand for their product(s) and/or service(s), and be able to point to domestic and international customers that they intend to market to. The applicant must also articulate within their business plan a credibly costed and researched approach to how both production and sales can be scaled to serve this potential market demand.

What to include the Innovator Founder visa business plan

In addition to a proposed business venture being ‘innovative, viable and scalable’, the endorsing body will also be required to assess the applicant’s role within the proposed business, including their contribution to the creation of the business plan itself.

The applicant does not need to be the sole founder of the business, but must still be a key part of the founding team. As such, the business plan should make it clear that the applicant is either the sole founder or an instrumental member of the founding team ‘and’ that they have generated or made a significant contribution to the ideas contained within their business plan. The plan must also make it clear that the applicant will have a day-to-day role in the UK in carrying out that plan, describing how the applicant will manage and develop the business. This is because the innovator founder route, as with the predecessor routes, is designed to support an applicant in setting up and running a new business in the UK, rather than simply investing in an existing business without any other contribution.

There are various factors that the endorsing body will consider as part of making these assessments, including the circumstances surrounding the creation of the business venture and the applicant’s role in that, as well as their role in creating the business plan. Careful consideration will also be given to any explanation offered by the applicant as to how their knowledge, skills and experience will enable the delivery of the innovation proposition within the business. For example, where the applicant has a clear founding leadership role within the business and has had a genuine involvement in putting the business plan together, and where it is clear that they have the specific knowledge and skills necessary to the founding of that business, they are likely to satisfy the ‘other new business criteria’.

Finally, the applicant must also agree to attend two contact meetings with their endorsing body in the event that they are granted an innovator founder visa. These meetings, one at 12 months and one at 24 months, are so that the endorsing body can regularly monitor the progress of the business, ensuring that the applicant is making sufficient progress against their previously endorsed business plan and is involved in the day-to-day management and development of their business, as intended. By setting out the applicant’s agreement to these meetings within the business plan, this will help to illustrate a thorough understanding of their obligations and how their role within the business will be key to its success.

Under rules introduced in March 2024, there is now a charge of £500 per contact meeting for most Innovator Founder visa holders. Exemptions apply to those with limited leave to remain under Appendix Innovator, Appendix Innovator Founder or Appendix Start up.

What information should an innovator founder business plan contain?

When it comes to the information to include within a business plan, again much will depend on the nature of the proposed business idea and how best the applicant feels they can present that idea. However, the following basic structure can help to ensure that an applicant provides all of the key information required by an endorsing body:

• The applicant’s name and the name of their proposed new business
• The names of any entrepreneurial team members who are also seeking endorsement
• An executive summary or overview of the business proposal
• A detailed description of the business and its main product(s) and/or service(s)
• A detailed description of the applicant’s role in founding the business
• A detailed description of how the innovation, viability and scalability requirements have been met, including any key challenges or risks and how these will be resolved
• A detailed description of the applicant’s proposed role in their new business
• The applicant’s agreement to attend 12 and 24 month contact meetings to assess their business progress under the checkpoint monitoring requirement.

The business plan is the main document that will showcase the potential of the applicant’s business idea, where the executive summary should set out the business’s mission, vision and strategic direction, highlighting the key objectives and how the applicant intends to achieve them. The business description should then provide a comprehensive overview of the business, including what the business will do, the industry it will operate in, the legal structure and its location. Detail should also be given as to product line and services, market analysis, organisation and management, as well as marketing and sales strategy.

However, when addressing each of the ‘new business’ criterion, it is important not to shy away from any potential challenges and risks that the applicant may have identified. By highlighting these challenges and risks within the business plan, provided the applicant can clearly illustrate how these will be addressed, this will help to provide reassurance to the endorsing body that the business will work. By omitting any potential problems from the plan altogether, this may undermine the proposal and show weakness rather than strength.

Importantly, in addition to assessing whether an applicant and their proposed new business meet the relevant ‘new business’ requirements, the endorsing body will need to undertake a due diligence assessment to ensure that the applicant is a fit and proper person whose source of wealth is legitimate and that any funds associated with their business activities can be legitimately accounted for. This means that the applicant will also need to provide sufficient detail within their business plan around the source of the funding for their proposed venture, together with a declaration of suitability for endorsement.

The official online Home Office guidance for endorsing bodies provides a list of the types of activities that would make an applicant unsuitable for endorsement, such as prior convictions for money laundering or corruption, where a declaration will be sought from the applicant to confirm if any of these activities apply to them. For completeness, by including this declaration within the applicant’s business plan, this will help to demonstrate the applicant’s understanding of the endorsement process and that both they, and their proposed business, are suitable to be endorsed for an innovator founder visa.

How to structure your innovator founder visa business plan

When it comes to what a business plan should look like, there is no standard layout or set formula that must be used. This will very much depend on the nature of the proposed business and how best the applicant feels they can present their innovative business idea.

However, the business plan must be well-considered and clearly laid out, ensuring that each of the relevant criterion are addressed in turn ‘and’ in sufficient detail. It is also important to show passion and commitment to the proposal, where the endorsing body will not just be looking at the business idea alone, but the applicant’s capability to make it succeed.

Still, writing a business plan is not easy, where an applicant’s skills may lie more in technical development of their innovative product or service, rather than in articulating their proposals in writing. As such, it is often advisable to seek expert advice and assistance from an immigration specialist before seeking endorsement and submitting any plan. In this way, the applicant can maximise the prospects of being successfully endorsed.

Need assistance?

DavidsonMorris are recognised leaders in UK business immigration. For specialist advice on the Innovator Founder route endorsement requirements and visa applications , contact us .

Innovator Founder visa business plan FAQs

How much investment is required for innovator founder visa uk.

Under the innovator founder route, there is no arbitrary minimum investment requirement although an applicant must still have sufficient funds to establish their business and make it grow.

How much is the innovator founder visa?

To apply for an innovator founder visa, the application fee is £1,036. However, to be eligible to apply, an applicant must first secure endorsement for their innovative business idea. The fee payable to the endorsing body is £1,000, excluding VAT.

How to get endorsed for innovator founder visa?

To get endorsed for an innovator founder visa, an overseas entrepreneur must submit their business plan and supporting documentation to one of the four endorsing bodies and pay a fee of £1,000, plus VAT.

Last updated: 25 March 2024

Founder and Managing Director Anne Morris is a fully qualified solicitor and trusted adviser to large corporates through to SMEs, providing strategic immigration and global mobility advice to support employers with UK operations to meet their workforce needs through corporate immigration.

She is a recognised by Legal 500 and Chambers as a legal expert and delivers Board-level advice on business migration and compliance risk management as well as overseeing the firm’s development of new client propositions and delivery of cost and time efficient processing of applications.

Anne is an active public speaker, immigration commentator , and immigration policy contributor and regularly hosts training sessions for employers and HR professionals

• Anne Morris https://www.davidsonmorris.com/author/anne/ UK Visa Fees 2024
• Anne Morris https://www.davidsonmorris.com/author/anne/ British Citizenship Fees 2024
• Anne Morris https://www.davidsonmorris.com/author/anne/ Guide to Travelling to the UK
• Anne Morris https://www.davidsonmorris.com/author/anne/ Explore Commonwealth Visa Options

About DavidsonMorris

As employer solutions lawyers, DavidsonMorris offers a complete and cost-effective capability to meet employers’ needs across UK immigration and employment law, HR and global mobility .

Led by Anne Morris, one of the UK’s preeminent immigration lawyers, and with rankings in The Legal 500 and Chambers & Partners , we’re a multi-disciplinary team helping organisations to meet their people objectives, while reducing legal risk and nurturing workforce relations.

Legal Disclaimer

The matters contained in this article are intended to be for general information purposes only. This article does not constitute legal advice, nor is it a complete or authoritative statement of the law, and should not be treated as such. Whilst every effort is made to ensure that the information is correct at the time of writing, no warranty, express or implied, is given as to its accuracy and no liability is accepted for any error or omission. Before acting on any of the information contained herein, expert legal advice should be sought.

Contact DavidsonMorris

Sign up to our award winning newsletters, find us on:.

Trending Services

DavidsonMorris Ltd t/a DavidsonMorris Solicitors is a company Registered in England & Wales No. 6183275

Regulated by the Solicitors Regulation Authority No. 542691

Registered Office: Level 30, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB

© Copyright 2024

Terms of Use | Privacy Policy | Cookies Notice

Website design by Prof Services Limited . 

Cookies on GOV.UK

We use some essential cookies to make this website work.

We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.

We also use cookies set by other sites to help us deliver content from their services.

You have accepted additional cookies. You can change your cookie settings at any time.

You have rejected additional cookies. You can change your cookie settings at any time.

• Business and industry
• Trade and investment
• Export finance
• UK Export Finance Business Plan 2024-29
• UK Export Finance

UK Export Finance Business Plan 2024-2029

Published 30 April 2024

© Crown copyright 2024

This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected] .

Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.

This publication is available at https://www.gov.uk/government/publications/uk-export-finance-business-plan-2024-29/uk-export-finance-business-plan-2024-2029

1. Executive Summary

This is UK Export Finance’s (UKEF’s) 5‑year strategic plan. It sets out how UKEF will grow the impact it delivers for the UK public, looking out to 2029.

UKEF supports UK exports – from companies large and small – helping to create economic growth and support jobs across the UK. It also creates wider impacts, like bolstering the UK’s leadership in green industries and building commercial partnerships with fast growing developing markets.

1.1 The structure of our plan

Delivery objectives.

Five objectives setting out the real‑world impact UKEF will target over the next five years.

Five‑year milestones

Puts a number on our ambition by setting out our numerical expectation of the impact we will create by 2029.

Strategic enablers

Describe how UKEF will evolve as an organisation to deliver the best service possible for our customers.

1.2 Our strategic enablers

• Putting the customer at the heart of everything we do
• Being purposeful and responsible with our risk taking
• Making UKEF the best place to work for our people
• Ensuring we have the right digital and data solutions to inform our activities
• Ensuring UKEF is an agile, fit-for-purpose organisation

1.3 Our objectives and five-year milestones

2. foreword.

I am exceptionally proud to present UK Export Finance’s (UKEF) next business plan. When I took on the role of UKEF’s Chief Executive Officer, I saw first‑hand the impact we have, and the momentum and drive of a department committed to serving its customers and delivering for the taxpayer. In that spirit, I set out my priorities for the department: maximising our real‑world impact, delivering services for our customers, growing the reach and relevance of our support, and continuing to invest in our people to ensure UKEF remains a great place to work. This plan builds on those priorities and sets out the department’s guiding strategy for the next five years. It is rightly bold, ambitious and challenging, and will deliver impact across the UK and in communities overseas.

Our mission has changed since our last business plan. We are now aiming to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer. Those principles – of delivering prosperity to individuals and communities, of doing our business sustainably, and of upholding our responsibility to the UK taxpayer – underpin all the work we do and our approach to supporting UK exporters.

This business plan also marks a shift for the department. UKEF has a proud track record of delivering tangible outcomes for our customers and partners, helping UK businesses realise their global ambitions. Our success will always be their success. Now we are also putting that impact at the heart of our business plan for the first time.

This approach is about recognising the strength of the UKEF offer and the role we can play as a catalyst for the UK economy – whether supporting the low‑carbon transition or using our deep sectoral understanding, global relationships and the opportunities created by new free trade agreements to get more UK businesses involved in large international projects. It is already guiding our strategic focus, most obviously in our new objectives and our Sustainability Strategy that I am pleased to launch alongside this business plan.

For our customers, this plan means a reaffirmation – and evolution – of the UKEF proposition. It means more digital services, a better user experience and a continued commitment to deliver innovative and game‑changing solutions that work for them, so that UKEF can unlock the finance they need to export. But our customers are not the only stakeholders we serve. We also have a responsibility to the taxpayer – to ensure that our services are delivered in a way that delivers value for money, protects against the risk of financial crime, and mitigates effectively against the risk of default.

Our ambitions build on strong foundations. Under our last business plan, we grew our portfolio, diversified our customer base and product range, and played a pivotal role in the response to some of the most pressing challenges of our time – the pandemic, the invasion of Ukraine and climate change.

None of this would have been possible without UKEF’s greatest asset: our people.

As we enter this next period, we will continue to invest in them, ensuring UKEF remains a place where talented people choose to build their careers, motivated by the real impact we have on the world.

Tim Reid, Chief Executive Officer

3. ukef’s strategic context.

Our world has faced a series of crises that have upended norms and led to a substantial global realignment. The pandemic, the war in Ukraine, persistent inflation and the effects of climate change are all having marked impacts not just on the UK but across the world. Against this backdrop, UKEF will play a key role in growing the UK’s trade base, supporting a greater value and volume of exports across this period.

Looking across the period of the business plan, the fundamentals of UKEF’s work will not change. The UK is a major exporting nation, and throughout our history UK companies have sold their goods and services across the world. Our core purpose remains as relevant as ever – but our offer will need to evolve. While UK service exports have stayed strong due to a deep comparative advantage across financial, cultural and business services, our goods exports are currently below pre‑pandemic levels. We will need to do more to help bring the domestic benefits of trade to more businesses large and small. This will mean supporting more exporters, significantly scaling the number of small and medium‑sized enterprises (SMEs) we support in all regions of the UK, and better targeting those who are underserved, such as ethnic‑minority and women‑led businesses.

At the same time, this is an era of global challenges – from climate change and biodiversity loss to the slowing progress towards poverty reduction and an uncertain economic environment. Export credit agencies are increasingly looked to not only to fulfil a market gap, but also to support their governments’ wider international and domestic policy objectives. Geopolitical tension and uncertainty is leading to increased global defence spending and a focus on building greater supply chain security – requiring us to continue to play a pivotal role in financing exports from the UK’s world‑leading defence and aerospace sectors. The imperative of addressing climate change means we will also need to expand our provision of clean growth and transition finance. And we will increase our financing for social infrastructure in developing countries, helping to build strong trading and investment partnerships with the markets of the future.

We live in an increasingly contested and volatile world. Trade can help us solve the problems of our time, unlocking the potential of British businesses, growing economies across the world and bringing the benefits of the climate transition to all. Helping UK businesses seize the opportunities of a changing world is the core of our 2024‑29 business plan.

4. Our mission, vision and values

UKEF is a purpose‑led organisation. We embed our vision and mission across our business, driving progress against the government’s priorities, delivering value for our customers and ensuring UKEF remains a great place to work.

Our mission

We advance prosperity, ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer.

To empower UK businesses, drive local growth and create a global impact.

5. Our impact

Each year, UKEF provides billions of pounds of financial support, helping businesses across the whole of the UK to export. This support makes a crucial difference, allowing UK firms – large and small – to grow by tapping into the enormous opportunities that global markets provide. This is at the core of our mandate, but the real‑world impact of our work is much wider: from supporting quality jobs in local communities in the UK and driving place‑based growth, to financing clean energy technologies that are needed for the global low‑carbon transition, and helping build much needed infrastructure in emerging economies.

Across the financial sector, firms are increasingly considering the impact of their finance and how they can drive better outcomes for customers and communities across the world. As a government department and a key tool for the UK government’s economic and foreign policy agenda, it is right that we do the same. Our staff consistently report that it is the impact of what we do that sets us apart and helps make UKEF a great place to work. Whether this is helping a small, local business in Teesside win a place in an overseas project, or financing a hospital to be built in Angola, our support touches individuals and communities across the world.

To ensure we fully understand the impact of our support, we have developed an impact framework, stemming from our mission statement, that sets out three thematic outcomes which UKEF support drives. Most importantly we support the UK’s prosperity, enabling firms to win contracts, create employment opportunities and pay higher wages. We have a sustainability impact, which includes supporting the low‑carbon transition. And we contribute to the UK government’s public policy aims, such as levelling up and the international development strategy. We work alongside the other public finance institutions in the UK, maximising the impact public finance can have and catalysing benefits for UK businesses through our combined approaches.

Our approach to impact has informed the development of this plan, with each of our delivery objectives aligned to the impact we want to have on the world. We are committed to ensuring that every strand of our operations – from our people, to how we use data and insights, to our approach to managing risk – are all focused on maximising the impact of our finance and support. The public rightly has high expectations for how their money is spent. This approach will give us assurance that we are driving positive outcomes while remaining responsible and appropriate with the amount of risk we take.

6. Delivery objectives for 2024-29

Our five delivery objectives set out what ukef will do to achieve our mission and continue to drive impact over the next five years:.

Catalyse UK trade through UKEF’s world-leading export finance and insurance offer

Significantly increase the number of SMEs that benefit from UKEF’s support

Support a broad range of businesses to export, driving local growth across all regions of the UK

Position UK exporters and suppliers at the heart of the global low-carbon transition

Use our finance in developing markets to create positive impact on communities overseas and in the UK

7. Objective 1: Catalyse UK trade through UKEF’s world-leading export finance and insurance offer

UKEF’s offering is our core strength – government‑backed finance on commercial terms that is focused on enabling British businesses to win contracts, fulfil orders and get paid. We will use our finance and insurance in support of the government’s trade agenda, driving UK exports, maintaining our place as a world‑leading export credit agency and expanding our support to more businesses than ever.

Support UK firms to win over £12.5 billion of export contracts by 2029

Enable £5 billion of finance to help exporters build their capability by 2029

7.1 How we will achieve this

8. objective 2: significantly increase the number of smes that benefit from ukef’s support.

The importance of the UK’s SMEs should not be understated. Comprising over 99% of all British businesses, they account for three‑fifths of employment and half of turnover in the private sector. Located across all regions and nations of the UK, these businesses provide local employment opportunities, bring UK expertise into global supply chains and are the heart of the UK economy. We want to support more SMEs that are looking to export and address the challenges they face in securing finance or insurance from the private sector. Underpinned by our trade finance products, including the General Export Facility, we will build on our historic successes and broaden our reach to even more of these businesses.

Support 1,000 SMEs per year before 2029

8.1 How we will achieve this

Expanding our reach to fill our addressable market for smes.

• Making it easier for SMEs to access our support, with more digital and automated services and quicker response times
• Delivering a targeted offering for smaller SMEs that struggle to access finance, covering both experienced and new exporters
• Doing more to help SMEs access finance from the private market
• Onboarding alternative finance providers that specialise in financing SMEs
• Better connecting SMEs with the projects that UKEF supports overseas, helping them win contracts
• Developing our offer for the overseas buyers of SMEs
• Modernising and expanding our insurance offering
• Delivering more targeted marketing and communications to build awareness of the UKEF offer

9. Objective 3: Support a broad range of businesses to export, driving local growth across all regions of the UK

UKEF is the export credit agency for the whole of the UK, so it is important that the benefit of our support is available to all businesses – irrespective of location, size or ownership. We know that underserved businesses have huge potential, but face barriers to accessing finance.

We are committed to increasing the impact we have on customers from underserved groups and ensuring that all regions and nations of the UK can benefit from UKEF’s offer.

Maintain a minimum of 80% of the businesses we support based outside of London over the business plan period

Measure the number of underserved businesses we support, setting a baseline and increasing the proportion of these businesses year-on-year

9.1 How we will achieve this

10. objective 4: position uk exporters and suppliers at the heart of the global low-carbon transition.

UKEF was one of the first export credit agencies to commit to reaching net zero by 2050, and we remain strongly committed to using our finance to facilitate the net zero transition. To achieve this, we will work with our partners to maximise positive climate impacts and mitigate negative ones, helping to accelerate the global transition to low‑carbon and climate‑resilient economies. We will enable the export of clean growth technologies, playing our part to bolster the UK as the world’s leading hub for green finance.

Provide £10 billion of clean growth finance to accelerate the UK’s green export sector by 2029

10.1 How we will achieve this

11. objective 5: use our finance in developing markets to create a positive impact on communities overseas and in the uk.

UKEF’s finance in developing and emerging markets can create mutual benefits, securing UK export wins and helping to deliver the infrastructure and other priority projects overseas that create economic growth. We know that developing countries will need vast quantities of finance to unlock clean and sustainable growth. UKEF actively mobilises finance into developing markets, de‑risking deals for commercial lenders and investors, and we remain committed to reforming and greening the international financing system. Over the course of this business plan, we will continue to contribute to the UK government’s international development offer, bringing the benefits of our support to the countries that need it the most.

Mobilise £10 billion of finance in low- and middle-income countries

11.1 How we will achieve this

12. our strategic enablers, 12.1 the blueprint for our delivery.

Our strategic enablers set a blueprint for achieving our business plan objectives. We have identified five enablers that will chart the path for us to deliver and will act as key areas of transformation over the next five years.

13. Customers

13.1 putting the customer at the heart of everything we do.

Serving the customer – UK exporters and those who buy from them – is at the core of our plan. We want our customers to benefit from clear, easy-to-use services. This means greater digitalisation to provide faster response times, innovative product development to respond to their needs, and consistent stakeholder engagement so our customers feel confident in our offering.

13.2 How we will achieve this

14. risk taking, 14.1 being purposeful and responsible with our risk taking.

Within our legislative and policy framework, effectively managing risk is key to everything we do. Due to the nature of our work – complementing the private sector, rather than competing with it – our portfolio tends to have a higher risk profile, a focus on emerging market risks, longer risk horizons and greater risk concentrations across certain sectors and geographic regions.

To manage this effectively, we must also act within our risk appetite using an appropriate risk management framework. Over the next five years, we will continue to strike that balance between ambition and responsible risk management, so that we can take the right risks to deliver against our objectives.

14.2 How we will achieve this

15.1 making ukef the best place to work for our people.

It is our people that shape our culture, uphold our values and who will ultimately make this plan a reality. Their knowledge, skills, creativity, and dedication will be what enables us to deliver on the strategy and ambitions we have mapped out for the next five years.

For UKEF to succeed, we must continue to build a working environment where our people feel valued, supported, and able to reach their full potential.

15.2 How we will achieve this

16. digital and data solutions, 16.1 ensuring we have the right digital data solutions to inform our activities.

A vast quantity of data flows into UKEF and is generated by UKEF every day.

Making sense of this data is key to ensuring our offer remains at the forefront of good practice, and that all our decision-making is evidence-driven and insight-rich.

Data and insights are the foundation of our organisation’s ability to take informed decisions, understand risks and secure business opportunities, and our use of technology helps us leverage this. Over the next five years we will continue on our path to becoming an insight‑driven organisation.

16.2 How we will achieve this

17. governance and accountability, 17.1 ensuring ukef is an agile, fit-for-purpose organisation.

UKEF is committed to high standards of governance and accountability, and as a ministerial government department, to delivering to the highest standards within our statutory remit for our ministers and wider stakeholder base.

Following the UK’s departure from the EU, this also includes opportunities created by our independent role in international forums to influence the wider enabling architecture for export credits. This will enable us to deliver our services more effectively and deliver on the government’s broader policy agenda.

17.2 How we will achieve this

18. our fiscal responsibility, 18.1 delivering value for taxpayers’ money.

UKEF operates at no net cost to the taxpayer over the long run, maintaining high standards of responsibility by adhering to the UK government’s Managing Public Money principles, and acting in accordance with our financial obligations as set out in HM Treasury’s Consent and UKEF’s governing legislation. We operate within an exposure limit and charge a premium that covers both the risk we take on and our operating costs. We have a number of financial objectives and a series of detailed risk policies, procedures and individual risk methodologies which determine how we assess, measure, manage and report the categories of financial risk we are exposed to.

One of the ways we can report on the level of financial risk we are taking on is through our measurement of maximum liability, which reflects the theoretical maximum value of claims payable across the portfolio. We are constrained on the amount of business we can underwrite by our maximum commitment limit, which sets out the maximum amount of exposure we are allowed to take.

But it is not only fiscal risk we manage. We monitor and assess a variety of other non‑credit risks, including:

• fraud, bribery and corruption, safeguarding taxpayer funds and avoiding loss occurring through export transactions tainted by financial crime
• legal risks, ensuring compliance with public law principles and applicable legislation and ensuring that UKEF’s documentation protects its position
• sustainability, environmental, social and governance risks, including the risk of supporting projects that do not adhere to human rights and modern slavery standards
• ensuring debt related to the transactions we support is consistent with sustainable lending principles

Our ministers and the UK taxpayer need to be confident that we remain a model of responsible and purposeful risk management. We will continue to proactively manage our risk and adhere to our fiscal requirements in pursuit of delivering our mission.

19. Contact us

[email protected]

Is this page useful?

• Yes this page is useful
• No this page is not useful

Help us improve GOV.UK

Don’t include personal or financial information like your National Insurance number or credit card details.

To help us improve GOV.UK, we’d like to know more about your visit today. Please fill in this survey .