Do you need a business plan to get a Start Up Loan?

Yes. The scheme provides support with writing business plans and cash flow forecasts, along with templates and guides, which is what applicants submit alongside the application. The loan is a personal one rather than a business loan, so the assessment covers personal credit and affordability as well as the business case. A Start Up Loan is £500 to £25,000 per applicant at a fixed 7.5% a year over one to five years, with 12 months of free mentoring for successful applicants.

What financial forecasts does a business plan need?

A cash flow forecast covering the first 12 months by month is the core document, alongside an itemised list of start-up costs with working capital inside the total rather than beside it, and a personal survival budget showing what the owner needs to draw and when. UK lenders assess whether the business can meet its commitments month by month, so a forecast that only shows an annual total does not answer the question being asked.

Does the franchisor write your business plan?

Many franchisors supply a template and a set of projections, and some help complete them, but the plan is submitted in the applicant's name and the borrowing is the applicant's. The UK has no disclosure document, so nothing requires a franchisor's projections to be audited, filed or independently checked. The figures can be tested against the franchisor's Companies House filings, its own published fee schedule and conversations with existing franchisees.

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