Rural Development
Association of Northeast Kansas
About RDA
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"What is a Business Plan?"
A business plan is a document that describes every aspect of a potential business. It includes a description and history of the business and its product(s). It also describes the market possibilities for the business product(s) and relays financial projections to the reader. Only by completing the plan can a business and a banker have an idea of how the business is expected to perform.
"Why Do We Need a Business Plan?"
Business planning is at the very heart of RDA's mission. We believe that "economic development starts at home." It is our goal to ensure that everyone who wishes to own a business is able to do so.
Opening a business is an arduous task that is sometimes taken too lightly by potential entrepreneurs. The U.S. Small Business Administration estimates that almost 80 percent of small businesses fail within two years of opening! Most experts indicate that lack of planning accounts for most small business failures. Too often businesspersons fail to take into account changing markets, varying demographics, and the competition that exists around them. Some fail to recognize seasonal variations or the importance of sound financial planning.
Before starting or expanding an operation, all businesses, regardless of size, should have a business plan in place. Only by forming a sound strategy will a business succeed. In addition, a well-organized business plan can help to secure a business loan even if a bank has turned you down before. Financial institutions need to see that a business owner has thought about every aspect of the business before risking their capital on an unproven venture.
"Does RDA Write Business Plans?"
RDA assists in taking business concepts and placing them into a formal document. However, the "planning" is done by you. We ask you the right questions so that you objectively think about your business. We take your ideas and present them in a way that is marketable to a potential investor or financier. So we will "write" the plan. However, when the plan is finished it will be your plan!
We will also act as a intermediary between a business owner and a creditor so that you may get the most favorable terms on your loan. Finally, WE WILL WORK WITH YOU UNTIL YOU GET THE MONEY YOU NEED to start your business!
If
you still have questions about business plans you can visit the SBA's
business plan site here! 
