Not all business plans include a funding request, but if you need money, investors or partners will want to see how much you need. Calculate this by subtracting your current money from your total projected costs. List your assets and what you’re contributing to jumpstart the business. Investors like to see what you have at stake before investing their money in your venture. Ensuring that your financial projects are accurate is a key component in raising money.
What Should I Include In My Funding Request?
There is no one-size-fits-all answer to this question, as the amount of detail and information required in a funding request will vary depending on your business structure.
- A detailed description of your business, including its purpose, goals, and objectives.
- Description of the need for your business, including data to support the need.
- How will your business address the need, including specific activities and/or strategies?
- The budget for your business, including all anticipated costs.
- A description of your business, including its mission, history, and capacity to carry out the project or program.
- Information about other funders who have contributed to your business, if applicable.
- A description of the evaluation plan for your business, including how success will be measured.
How Do I Write One?
- Hire a business consultant.
- Be clear and concise about what the money will be used for.
- Provide a detailed budget and timeline.
- Demonstrate how your proposed business plan aligns with the organization’s mission and goals.
Although it seems like you’ll need to include a lot in your funding request section, correctly preparing the rest of your business plan will provide all of the information needed. Ensure that you are thorough and meticulous when reviewing your business plan. It is the most important tool for your business.