Creating a business plan is a vital step for any small business in the UK. It helps you define your goals, attract funding, and navigate the competitive market. Fortunately, you don’t need to spend money to create a professional plan. Below, we’ve listed 10 free tools to help UK small businesses build effective business plans. These tools are easy to use, tailored for the UK market, and designed to save you time.
What is a Business Plan?
A business plan is a document that describes your business’s objectives, strategies, market analysis, and financial forecasts. It serves several purposes:
- Securing Funding: Banks and investors often require a business plan to evaluate your business.
- Guiding Operations: It keeps you focused on your goals and strategies.
- Understanding the Market: It helps you analyze competitors and customer needs.
For UK small businesses, a business plan is especially important to comply with local regulations, access government schemes like Start Up Loans, and compete in a dynamic economy.
The 10 Free Tools
Here are 10 free tools to help you create a robust business plan for your UK small business:
1. Upmetrics Free Business Plan Generator
- What It Is: A free online tool that generates a lean business plan in minutes.
- Key Features:
- Input details like company overview, marketing strategy, competitor analysis, and financial overview.
- Creates a professional plan instantly.
- No limit on the number of plans you can create (premium features start at £7/month).
- Why It’s Great: Perfect for startups with limited budgets, offering a quick and simple way to start planning.
- How to Use: Visit Upmetrics and complete the form to generate your plan.
- Best For: Entrepreneurs needing a fast, basic plan to kickstart their business.
2. UKStartups.org Business Plan Builder
- What It Is: An interactive tool designed specifically for UK startups and small businesses.
- Key Features:
- Guides you through creating a custom plan with questions about your business.
- Covers business basics, market research, and financial projections.
- Includes interactive tables for automatic financial calculations.
- Offers a Business Plan Quality Score™ (BPQS) to evaluate your plan’s appeal to lenders.
- Provides expert feedback upon completion.
- Why It’s Great: Its UK focus and expert support make it ideal for businesses seeking funding.
- How to Use: Access the tool at UKStartups.org and follow the step-by-step prompts.
- Best For: Businesses aiming to secure bank loans or investor funding.
3. Teneric.co.uk Free Business Plan Templates
- What It Is: Free, downloadable templates compatible with Microsoft Word or Excel.
- Key Features:
- Used by over 120,000 entrepreneurs in the UK and globally.
- Includes guidance notes for professional completion.
- Structured to help secure bank loans but adaptable for other purposes.
- Why It’s Great: Offers a flexible, no-cost option for businesses that prefer working with templates.
- How to Use: Download templates from Teneric.co.uk without registration.
- Best For: Businesses wanting a customizable, professional template.
4. Start Up Loans Free Business Plan Template
- What It Is: An Excel-based template provided by the UK government’s Start Up Loans program.
- Key Features:
- Includes sections for business overview, market research, and financial projections.
- Comes with a Personal Survival Budget and Cash Flow Forecast template.
- Accompanied by a PDF guide for instructions.
- Why It’s Great: Tailored for UK businesses, especially those applying for government-backed loans.
- How to Use: Download from Start Up Loans.
- Best For: Startups seeking government funding or loans.
5. Microsoft Free Business Plan Template
- What It Is: A free, professionally designed template available through Microsoft Office.
- Key Features:
- Compatible with Microsoft Word.
- Covers executive summary, company description, market analysis, and financials.
- Easy to customize for any business type.
- Why It’s Great: Accessible and familiar for users already using Microsoft Office.
- How to Use: Find it at Microsoft Templates.
- Best For: Businesses comfortable with Word and seeking a straightforward template.
6. Bplans Example Business Plans
- What It Is: A collection of over 500 sample business plans across various industries.
- Key Features:
- Provides real-world examples to inspire your own plan.
- Covers industries like retail, tech, and hospitality.
- Free to access and browse.
- Why It’s Great: Helps you understand what a successful plan looks like and adapt it to your needs.
- How to Use: Explore examples at Bplans.
- Best For: Entrepreneurs looking for inspiration and industry-specific guidance.
7. Start Up Donut Guide on Writing a Business Plan
- What It Is: A detailed online guide for UK startups on creating a business plan.
- Key Features:
- Step-by-step advice on each section of a business plan.
- Tips on market research, financial forecasting, and securing funding.
- Tailored to the UK market.
- Why It’s Great: Offers practical, actionable advice for beginners.
- How to Use: Read the guide at Start Up Donut.
- Best For: New business owners needing clear, UK-specific guidance.
8. People Plus Free Business Plan Template
- What It Is: A free template offered through Ask About Business.
- Key Features:
- Designed for UK small businesses and startups.
- Includes sections for business overview, marketing, and financial projections.
- Simple and easy to use.
- Why It’s Great: A no-frills option for quick planning.
- How to Use: Download from Ask About Business.
- Best For: Small businesses needing a basic, free template.
9. COBRA Guide to Writing Business Plans
- What It Is: A comprehensive guide accessible through libraries or online platforms.
- Key Features:
- Covers all aspects of business planning, including market research and financials.
- Offers tips for securing funding and complying with UK regulations.
- Detailed and professional.
10. Zoho Books Free Accounting Software
- What It Is: Free accounting software for UK small businesses with revenue under £35,000.
- Key Features:
- Customer portal, mobile app for receipt scanning, and bank reconciliation.
- Basic invoicing and expense tracking (up to 1,000 invoices/year).
- Helps create accurate financial projections for your business plan.
- Why It’s Great: Essential for the financial section of your plan, especially for cash flow forecasts.
- How to Use: Sign up at Zoho Books.
- Best For: Solopreneurs and micro-businesses needing financial tools.
Tips for Writing a Successful Business Plan
To make the most of these tools, follow these tips:
- Conduct Thorough Research: Use guides like Start Up Donut or COBRA to understand market and competitor analysis.
- Focus on Financials: Tools like Zoho Books help create realistic financial projections, which are critical for investors.
- Tailor to Your Audience: If seeking funding, highlight market opportunities and financial viability, as supported by UKStartups.org’s BPQS.
- Keep It Clear and Concise: Use templates like Microsoft’s or Teneric’s to maintain a professional, easy-to-read format.
- Seek Feedback: Leverage tools like UKStartups.org for expert reviews to refine your plan.
Conclusion
Building a business plan doesn’t have to be expensive or complicated. These 10 free tools provide UK small businesses with everything from templates and guides to interactive builders and financial software. Whether you’re launching a startup or refining an existing business, these resources will help you create a plan that sets you up for success. Start today by exploring these tools and take the first step toward achieving your business goals.
