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How to start and fund your own business

Learn how to start and manage your small business, and find local support if you need help.

How to start a business

If you want to start a new business, the Small Business Administration (SBA) can help. SBA’s 10-step guide explains how to plan, launch, and manage your business. 

As you grow your business, it’s important to understand taxes, how to hire and manage employees, and your legal responsibilities. SBA's Business Guide can help you manage day-to-day operations and prepare for success.

Funding your small business

Businesses need money to start and grow. And they may need money to recover after a disaster. There are no federal grants for starting a business . But small business owners can get money in different ways. This includes using personal funds, finding investors, or taking out loans.

The SBA also has funding for groups such as:

• Women-owned businesses
• Minority-owned businesses
• Native American-owned businesses
• Veteran-owned businesses
• Military spouse-owned businesses
• LGBTQ-owned businesses

If you own a rural business, you can find support to start, expand, or maintain your farm or rural business. Resources include:

• SBA financing options for rural businesses
• Farm Service Agency loans for farmers or ranchers

Find local support

The SBA provides free or low-cost counseling and training. You can:

• Find support to learn new skills
• Connect with other business owners
• Apply for a loan for a declared disaster area
• Find help with government contracting, and more. 

Contact SBA by:

• Calling SBA’s Answer Desk at 1-800-827-5722 or emailing [email protected]   
• Searching SBA’s network of partners for low-cost or free services in your area

LAST UPDATED: August 22, 2024

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Ask a real person any government-related question for free. They will get you the answer or let you know where to find it.

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Top 10 Business-Plan Templates You Can Download Free

Why reinvent the wheel get free professional business plan templates at no cost..

Writing your business plan. Ughhhh.

It's definitely not the most exciting part of starting a business. In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding . Because that's the thing--your business plan is a pretty important.

Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. Recently, I shared 18 Mistakes That Kill Startups , an infographic created by Mark Vital over at Funders and Founders.

A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.

Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities. It might even lead you to kill off aspects of your business before investing too much time or money in them.

That doesn't mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren't doing anything that hasn't been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized. Check out these comprehensive business plan templates you can download for free to get you started:

1. Score's Business Plan Template for Startups

Score is an American nonprofit dedicated to helping entrepreneurs get their companies off the ground. Its template, available as a PDF or Word download, asks a whopping 150 questions and is generic enough to customize for most types of businesses. The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan.

2. U.S. Small Business Administration Business Plan Engine

The SBA's template is available to fill out online and then download as a PDF. You can go back in and edit it as needed, so don't worry about having everything ready the first time you sit down to tackle it. Even broken into sections, it's a long document and a bit of a slog to get through, but it produces a professional-looking and useful business plan. This is particularly helpful if your idea isn't fully fleshed out and you know you have homework to do--it prompts you for information.

3. The $100 Startup's One-Page Business Plan

Who said a business plan has to be a long, complicated document? Some funders are going to want to see a lot of detail, but you can provide that in appendices. The $100 Startup, the website for the best-selling book of the same name, has a ton of stripped-down resources for entrepreneurs, including this super simplified business plan template.

4. LawDepot's WYSIWYG Business Plan Template

This one says you just have to answer a few simple questions and will be "done before you know it!" Don't believe it. A business plan should take time and a lot of homework, but if you've already done that, LawDepot's template is a decent choice. It walks you through getting started, marketing, product, competitive analysis, SWOT, and more, with a window below the input fields to show you the plan as you work away at it. You can download it free with a trial subscription, but you'll have to remember to cancel it within the week if you don't plan to continue using it.

Editor's Note: Looking for Business Loans for your company? If you would like information to help you choose the one that's right for you, use the questionnaire below to have our partner, BuyerZone, provide you with information for free:

5. sme toolkit business plan samples.

The SME Toolkit, jointly offered by IFC and IBM, offers a simple two-page outline of what should be included in your business plan to meet the minimum requirements of funders and tax authorities (in the U.S.). It contains 10 broad sections, including market analysis, management and organization, etc., with a one-paragraph explanation of each. A second download on the same page is an Excel file to help with your financial projections.

6. Office Online Templates Galore

Of course, Microsoft offers a ton of business plan templates for Office users (you can get birthday invitations while you're at it). If you'd rather do a business plan presentation than a Word doc, you can download one of Microsoft Office's half a dozen or so PowerPoint templates for just that purpose. You'll want to customize it with your company branding (you have your branding down, right?), but it's easier than starting from a blank PPT.

7. vFinance Inc. Business Plan Template and Guide

Global financial services firm vFinance offers a basic, 30-page business plan template to download from its website--one the company says has been downloaded more than a quarter of a million times. No, it won't be completely unique, but vFinance knows what it's doing and the template is pretty comprehensive. VFinance is the creator of the massive Venture Capital Directory and has tailored the plan to appeal to funders. If that's your goal, definitely check this one out.

8. Invoiceberry Templates for Word, Open Office, Excel, or PPT

U.K. online invoicing software brand Invoiceberry offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats. Each one also contains a marketing plan and executive summary template. There's a catch, though--the company asks you to take one of the following three actions before you can download the template: like it on Facebook, give it a +1 on Google+, or give it your email address. If you don't mind doing that, it's a good deal. Kudos to Invoiceberry for figuring out this effective lead-gen tactic too!

9. Santa Clara University's My Own Business Institute Plans

Santa Clara U's MOBI is an initiative of its Center for Entrepreneurship and Innovation at the Leavey School of Business. On the site, you can download each of the 15 business plan sections individually as Word documents, or grab all 15 together in one doc. There's a ton of other helpful resources as well, including guidelines for evaluating your potential sites, a list of key people to review your plan, and sample financial sheets.

10. RocketLawyer's Business Plan Templates by State

Like some of the others, you fill out RocketLawyer's form and download the business plan when you're done--but its template allows you to choose your state before getting started. These plans are tailored to meet your financing requirements in your state, which is a huge bonus for those seeking funding through banks. It's also heavily geared toward financing, making it a good choice if that's a priority for you.

Editorial Disclosure: Inc. writes about products and services in this and other articles. These articles are editorially independent - that means editors and reporters research and write on these products free of any influence of any marketing or sales departments. In other words, no one is telling our reporters or editors what to write or to include any particular positive or negative information about these products or services in the article. The article's content is entirely at the discretion of the reporter and editor. You will notice, however, that sometimes we include links to these products and services in the articles. When readers click on these links, and buy these products or services, Inc may be compensated. This e-commerce based advertising model - like every other ad on our article pages - has no impact on our editorial coverage. Reporters and editors don't add those links, nor will they manage them. This advertising model, like others you see on Inc, supports the independent journalism you find on this site.

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Start » startup, 5 business plan templates to help you plan for success.

Writing a business plan may not be the most exciting thing, but it is a crucial part of your business’s success. Here are 5 business plan templates to get you started.

Writing a business plan may not feel like the most exciting part of starting a business, but designing a solid plan is crucial for any company to succeed — especially if you plan to seek funding from an investor or a lender.

Fortunately, many organizations and online resources offer business plan templates to make this step as painless as possible. Here are five business plan templates you can use to get your startup off the ground, pivot your existing plan or attract new investors to your business.

For a comprehensive first-timer: U.S. Small Business Administration

The U.S. Small Business Administration (SBA) has a comprehensive tool that allows you to create a thorough, well-researched business plan. A helpful feature of this tool is that it allows you to edit your business plan as needed, so you don’t have to start from scratch every time you make a change.

The SBA’s business plan template is lengthy, which means you may not be able to tackle it all in one sitting. However, taking your time with this tool will encourage you to analyze every aspect of your business —an important step in helping your business reach its goals.

For a straightforward idea jogger: The $100 Startup

If you’re not seeking funding and don’t necessarily need a complicated template, The $100 Startup , named after the best-selling book, offers a one-page business plan template that you can complete in just a few minutes.

This template isn’t necessarily designed to win investors or lenders, but it will get your thoughts on paper and allow you to start executing your plan.

[Click here for more tips on writing your business plan .]

Writing a business plan usually happens during the startup phase, but if you didn’t create one — or simply haven’t updated yours since you launched — it’s not too late.

For a specific industry: LawDepot

LawDepot’s free business plan template has a simple, easy to use interface that guides you through every step of the process. It also allows you to select which industry you do business in, so each template is tailored to the specific needs of your operation.

While the business plan template is free to use, you have to sign up for a trial subscription to download your plan. However, you can cancel the subscription if you don’t plan on using the service afterwards.

For a law firm: Lexicata

As a law firm, marketing your services, building a website and other business-related essentials may seem out of reach as you balance the needs of your clients and jump from one case to another.

Designing a strong business plan will help you manage your business while serving the needs of your clients. Lexicata offers a free law firm business plan template that is broken into five primary sections, each of which guides you through everything you need to make a proper business plan and run a successful firm.

For an established business: SCORE

Writing a business plan usually happens during the startup phase, but if you didn’t create one — or simply haven’t updated yours since you launched — it’s not too late. Established businesses can create a business plan that aligns with their current goals, such as attracting investors, lenders, buyers or even new partners.

SCORE , a nonprofit organization devoted to helping entrepreneurs, business owners and small businesses succeed, has designed a free business plan template for established businesses that can help you align or pivot your company goals to your current needs.

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What are business plans?

From the Small Business Administration: A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. As it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.

Before you begin writing your business plan, consider four core questions:

• What service or product does your business provide and what needs does it fill?
• Who are the potential customers for your product or service and why will they purchase it from you?
• How will you reach your potential customers?
• Where will you get the financial resources to start your business?

https://www.sba.gov/offices/district/mo/st-louis/resources/how-write-business-plan

Library Resources

Business Plans Handbook

A compilation of actual business plans developed by small businesses throughout North America.  Business Plans Handbook is part of Gale Virtual Reference Library.  Use the link above to access the online collection.

Web Resources

• Small-Business Glossary of Terms
• Bplans.com: Sample Business Plans
• Business Owners Toolkit / Sample Business Plan Components
• Write a Business Plan
• Business Plan Basics
• Sample Business Plans
• SCORE A resource partner of SBA offering training, certification and a broad array of assistance across the country. Multiple options available in Twin Cities.

Books and Video on Developing and Writing Business Plans

• The business plan workbook   / Colin Barrow, Paul Barrow, Robert Brown. London : Kogan Page, 2005. Online Access. Print: TC Wilson Library Business Reference HD30.28 .B3685 2005
• Plan as you go business plan . Entrepreneur Press, 2008.  TC Wilson Library HD30.28 .B4569 2008 Regular Loan 
• How to prepare a business plan .  Kogan Page, 2008.  Online Access.
• The business plan [videorecording]   / writer/director, Suzi Taylor ; producer, Suzi Taylor ; VEA. Hamilton, NJ : Films for the Humanities and Sciences, [2010] TC Walter Smart Learning Commons HD30.28 .B8525 2010
• Business planning for turbulent times : new methods for applying scenarios   / edited by Rafael Ramirez, John W. Selsky and Kees van der Heijden. London ; Washington : Earthscan, 2010. TC Wilson Library HD30.28 .B848 2010
• Entrepreneur's guide to writing business plans and proposals .  Praeger, 2008. Online Access.
• Creating a business plan : expert solutions to everyday challenges .  Boston, Mass. : Harvard Business School Pub., c2007. TC Wilson Library HD30.28 .C73 2007
• Writing a convincing business plan .  Barron's, 2008. TC Wilson Library HD30.28 .D477 2008 Regular Loan 
• How to write a business plan   / Brian Finch. London ; Philadelphia : Kogan Page, 2010.zz TC Wilson Library HD30.28 .F562 2010
• Ernst & Young Business Plan Guide .  John Wiley, 2007. TC Wilson Library HD62.5 .S556 2007 Regular Loan br>
• Seven step business plan .  Pelican Publishing Co, 2007.  TC Wilson Library HD30.28 .H6725 2007 Regular Loan 
• How to write a business plan .  Mike McKeever. Berkeley, CA : Nolo, 2007. Online Access
• The new business road test : what entrepreneurs and executives should do before writing a business plan   / John W. Mullins. Harlow, England ; New York : Prentice Hall/Financial Times, 2006. TC Wilson Library Reserve HD62.5 .M85 2006
• Anatomy of a Business Plan: a step by step guide to building a business and securing your company's future .  7th edition. 2008. Online Access.
• Entrepreneurial finance: finance and business strategies for the serious entrepreneur   / Steven Rogers ; with Roza Makonnen. New York : McGraw-Hill, c2009. Online Access.
• The Business Plan: How to Win Your Investors Confidence   / by Gerald Schwetje, Sam Vaseghi. Berlin, Heidelberg : Springer-Verlag Berlin Heidelberg, 2007. Online Access.
• The due diligence handbook: corporate governance, risk management and business planning  / Linda S. Spedding. Amsterdam ; Boston ; London : CIMA, 2009. Online Access.
• The marketing plan workbook   / John Westwood. London ; Sterling, VA : Kogan Page, 2005. TC Wilson Library Business Reference HF5415.13 .W482 2005  [Table of contents ]--  http://www.loc.gov/catdir/toc/ecip053/2004026585.html 

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• Minnesota Small Business Development Centers This statewide network of Small Business Development Centers provide the professional expertise and guidance that every small business owner needs to flourish in today's competitive and changing business world.
• Small Business Administration -- Minnesota District Office The Minnesota SBA Office is responsible for the delivery of SBA's many programs and services throughout the State of Minnesota. The office is located at 210-C Butler Square, 100 N 6th Street, in downtown Minneapolis across the street from the Target Center. Office hours are 8:00 a.m. until 4:30 p.m., Monday through Friday. The local phone number is 612-370-2324.
• WomenVenture Help for women entrepreneurs.
• Womens Business Centers SBA assistance for women entrepreneurs.

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FACT SHEET: Ahead of Small Business Saturday, Biden- ⁠ Harris Administration Announces Latest Steps to Support Small   Businesses

Department of the Treasury announces $50 million to help underserved small businesses secure financing; Small Business Administration delivers $50 billion to small businesses and sees record loans to minority businesses

• $50 million in American Rescue Plan funds will help thousands of small businesses access historic investment opportunities from the President’s Investing in America agenda . The U.S. Department of the Treasury is announcing awards of more than $50 million to 20 states to provide legal, financial, and other advisory services that are expected to help more than 10,000 small businesses owned by individuals from traditionally underserved communities secure loans and investments to grow and expand. These awards are being provided through the State Small Business Credit Initiative’s (SSBCI) Technical Assistance Grant Program – part of the American Rescue Plan’s historic support for underserved small businesses that is providing capital, building ecosystems of opportunity and entrepreneurship, and creating new jobs and economic opportunity. This announcement represents only a portion of the nearly $10 billion SSBCI funds deployed to states, tribes, and territories to launch and expand capital access programs for roughly 100,000 small businesses. Each dollar of SSBCI funds catalyzes $10 of small business lending and investments – resulting in tens of billions of new small business financing across the country through 2030. To date, the Treasury Department has already approved more than $8 billion in funding to all 50 states, and an additional $108 million in technical assistance grants to 32 states through the SSBCI Capital Grant and Technical Assistance Grant programs. 
• Small Business Administration (SBA) delivered $50 billion to small businesses in Fiscal Year 2023, with major increases in support for underserved businesses, including minority-owned businesses. Today, the SBA released data on the performance of its lending programs in Fiscal Year 2023, including its signature 7(a) Loan Program, which supports financing to small business for working capital and a range of other uses, and its 504 Loan Program, which provides financing for major fixed asset purchases. That data shows SBA delivered a historic $50 billion in capital to small businesses across the country in Fiscal Year 2023. Highlights from the data include:
• Total SBA Lending: The SBA has backed $108 billion in 7(a) and 504 loans to small businesses during the Biden Administration – 32% more than the same time in the prior administration.
• Minority Lending: Since 2020, the share of the SBA’s loan portfolio going to minority-owned businesses has increased from 23% to over 32%. For example, the number and dollar value of SBA-backed loans to Black-owned businesses has more than doubled. The SBA backed $3 billion in loans to Latino-owned businesses in FY23 – a record-breaking high. Lending to AAPI-owned small businesses is on the rise, with loan count and total loan dollars both increasing by over a third since 2020. Finally, loans to Native-owned small businesses are up 70% and total loan dollars have nearly doubled since 2020. These are just a few of the results of SBA’s efforts to expand access to its core capital programs for all small businesses.
• Women-Owned Small Businesses: Lending to women-owned small businesses is once again on the rise, with loan counts increasing by 70% since 2020 and total loan dollars exceeding $5 billion in 2023.
• Veteran-Owned Small Businesses: Loans to veteran-owned small businesses are up by a third since 2020, with total loan dollars exceeding $1 billion in 2023.
• Small dollar loans. Small businesses consistently voice the need for access to small dollar loans, with survey results indicating over 50% seek loans of less than $100,000. According to another survey , only one-third of the smallest businesses – those with $100,000 or less in annual revenue – report receiving the full funding they request from banks. The SBA has worked to increase small dollar loans, and in FY23 delivered nearly $90 million in microloan funding – loans of $50,000 or less—with 35% of those loans going to Black-owned businesses and 15% going to Latino-owned businesses. SBA delivered more loans in its signature 7(a) loan program under $150,000 in FY23 than in FY22, FY21, and FY20 – an overall 45% increase since President Biden took office.
• SBA and the Department of Agriculture strengthen partnership to invest in rural small businesses. This week, the SBA and USDA signed a memorandum of understanding to strengthen their long-standing partnership to create jobs and economic growth in small and underserved communities. Together, the agencies will provide trainings to rural businessowners, work with agricultural producers to identify ways to export products, and expand the collaboration between USDA’s Rural Partners Network and SBA’s Resource Partners Network to improve economic security for small businesses throughout rural America.

The Biden-Harris Administration has already taken significant steps to support small businesses in the past few months. This includes:

• SBA expanded its lending program focused on underserved communities for the first time in 40 years. This fall, the SBA issued new licenses to lenders in the Small Business Lending Company (SBLC) program for the first time in 40 years . The lenders in this program historically outperform banks and credit unions in lending to minority-owned businesses. The three new licensed lenders – Arkansas Capital Corporation, Alaska Growth Capital, and Funding Circle – have expertise and history lending to traditionally underserved communities. Arkansas Capital Corporation is a community development financial institution (CDFI) serving Arkansas and the bordering states, and since 2019 has delivered more than half of their lending to Persistent Poverty Counties – counties with at least a 20% poverty rate for over 30 years. Alaska Growth Capital is a certified Native CDFI with more than 60% of activities dedicated to serving Alaska Native, Native American, and Native Hawaiian businesses and communities. Funding Circle is an online lending platform that has originated more than $4.5 billion in loans to small businesses, with 33% of current loans going to small businesses in low-to-moderate income neighborhoods and 40% going to small businesses in rural areas.
• Treasury released a Notice of Funding Opportunity for $75 million SSBCI Investing in America Small Business Opportunity Program.  In October, Treasury announced a $75 million competitive grant program with American Rescue Plan funds for states to provide services to help very small and underserved businesses access opportunities created by the President’s Investing in America agenda – which includes the historic investments made by the Bipartisan Infrastructure Law, Inflation Reduction Act, CHIPS and Science Act, and American Rescue Plan – by offering them technical assistance.
• The Minority Business Development Agency (MBDA) awarded $100 million through the Capital Readiness Program to invest in small business incubators and accelerators . The MBDA awarded 43 non-profit community-based organizations funding to support underserved entrepreneurs launch and scale their small businesses. This program, funded through the American Rescue Plan, is the largest-ever direct federal investment in small business incubators and accelerators of its kind.
• SBA’s Community Navigators Program provides critical technical assistance. This summer, the SBA announced that its more than 50 American Rescue Plan-funded Community Navigators grantees had already helped to secure nearly $250 million in approved funding for small businesses, trained over 290,000 business owners, and conducted 145,000 hours of one-on-one counseling.  With funding set to expire by the end of this year, the Biden-Harris Administration proposed additional funding for the program in its FY24 Budget proposal and has called on Congress to continue the program.
• Historic investments in small businesses have been provided through the federal procurement system. In 2022 , the Biden-Harris Administration awarded a record-breaking $163 billion in federal procurement opportunities to small businesses. These awards include a record $69.9 billion, or 11.4% of federal contracting spending, to Small Disadvantaged Businesses (SDBs) – exceeding the Administration’s FY22 goal – and over $28 billion to service-disabled Veteran-owned (SDVOB) small businesses, or 4.6% of federal contracting spending. 

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