Business Plans

Librarian: Shaun Bennett

Jump to:

Writing a Business Plan
Opportunity Identification
Industry Analysis
Competitive Analysis
Target Market & General Marketing
Operations & Labor
General Small Business Resources

Writing a Business Plan

A business plan identifies the goals of the business, defines the methods for achievement, provides a benchmark for measuring success, and is a requirement when applying for funding.

Business plans should include the following elements:

1-2 page executive summary of the entire plan
Description of the business (products and services to be offered)
Market analysis of the target market for your business
Operations and management overview
Description of services or products
Marketing strategy
Requests for funding, if needed
Financial projections

Resources for business plan writing:

How to Write a Business Plan - SBA.gov
The Small Business and Technology Development Center (SBTDC) offers information on writing a business plan and obtaining funding.

Physical copies of business plans are available through the Business Plans Handbook series,

Opportunity Identification

New products, business ideas, and services can be found through various scholarly resources and business news and magazine publications.

Databases for finding scholarly or news publications:

Business Source Complete is a starting place for finding scholarly articles and trade publications searches.
ABI/INFORM Collection contains popular articles, trade journals, and blog posts on business & management topics. Be aware that this database contains ads for market reports. These can be removed by clicking on the “Exclude Wire Feeds” button on the left side of the search results.
Summon for multi-disciplinary searches beyond management & business subjects.

Patents & Trademarks

Commercializing inventions may call for the protection of that intellectual property through patents. Protected patents and trademarks in the U.S. can be found through the U.S. Patents and Trademarks Office (USPTO) website. You can also search and view the USPTO database with Google Patents.

Additional resources for patent searching:

The Libraries’ Patent & Trademark Resource Center has tips for getting started.
Derwent Innovations Index: patent database that searches patents across world patents.

Industry Analysis

When writing your business plan you need a sense of the industry and major players involved.

IBISWorld contains reports for most industries, utilizing the NAICS code system. Smaller industries may not be represented, so search at a wider level first. For example, a report on thermoforming may not exist, but plastic manufacturing likely does.
Business Source Complete search for industry reports under the “Industry Profiles” link on the bottom left of the landing page.
Mintel Reports has survey-backed reports for most consumer industries. All reports have a "Databook" with detailed results from the surveys. "Explore Demographics" shows information on a specific market or industry.
The Statistical Abstract of the United States has large-scale industry and population statistics. Look for "Section 15: Business Enterprise."

For more information on industry analysis, view the Industries & Supply Chain tab.

Competitive Analysis

It’s important to know your competitors, how they’re performing financially, and any weaknesses to capitalize on. Information available will depend on the status of the company. Publicly traded companies have more information than private companies that may have little to no information available.

Standard & Poor’s NetAdvantage contains financial information on public companies. View the investment research section in the bottom left hand menu for each company: these are weekly-updated reports that detail challenges and opportunities for that company.
PrivCo has private company financial data.
Data Axle a geographically-based database, great for finding out how many companies of a specific type are in an area, and estimated sales figures.
NexiUni offers SWOT analyses on large public companies with company profiles and financial information. Go to the "Company Information" module on the left side of the landing page.

For more information on company analysis, view the Company Research tab.

Target Market & General Marketing

Choosing your target market and actually marketing to that group is a major part of your business.

Mintel Reports conducts surveys of consumers across a variety of industries.
The U.S. Census Data and the American Community Survey contain demographic information.
ESRI’s Business Analysis Online offers census, American Community Survey, and other data points in a geographic information system format so you can designate specific areas and find out things like tapestry segmentation and demographics. Note: you’ll need to sign up (free) for an ArcGIS account before using this database.
The Gale Directory of Publications and Broadcast Media has basic information on magazines and radio stations across the country, with advertising rates when available. This resource is from 2010, so some information may be out of date.

Operations & Labor

Wages and salaries are a significant portion of operating costs for businesses. Securing suppliers, transportation, and logistics ensures that your business has a strong foundation.

ProcurementIQ has detailed reports on the supply chain process for various industries. If your industry isn’t available, a similar industry’s report may be useful.
ThomasNet provides supplier information, and makes it easy to compare companies.
IHSConnect offers global labor-related statistics; click on "Economics" on the top left to access the categories.