Before writing a business plan in Ontario

The North Consultancy · Published 7 October 2026 · Practical guide

A business plan is easier to write when its purpose is clear. An internal plan, a discussion with a partner and a funding application may need different levels of detail. Start by identifying who will use the plan and what decision it should help them make.

1. Write the decision in one sentence

For example: “We need to decide whether to launch this service in one Toronto neighbourhood before expanding.” This is a planning example, not a claim about a particular client. A specific decision helps you choose useful research and avoid filling pages with information that changes nothing.

2. Separate what you know from what you assume

Create three columns: confirmed information, assumptions and questions to investigate. A supplier quotation belongs in a different category from an estimated future selling price. Record the source and date of important information so the plan can be updated.

For a local business, consider the customer group, service area, practical delivery arrangements and alternatives people already use. Avoid describing everyone in the GTA as your target customer. A narrower starting point often makes the offer easier to explain and test.

3. Describe how the work will actually happen

Walk through a customer’s journey from enquiry to delivery and follow-up. Identify who does each step, what equipment or software is needed and where another provider is involved. This can reveal a missing responsibility before it becomes an operating problem.

4. Give the numbers a clear basis

List the assumptions behind revenue and cost estimates, and identify which figures need professional review. Keep expected results distinct from historical results. A simple downside scenario can help you discuss what happens if demand is lower or delivery costs are higher than expected.

BDC’s business plan guidance is a useful official starting point for organising a plan around the business, market, operations and supporting information. Formal financial work may require an accountant.

5. Finish with actions and open questions

A plan should leave the owner with something to do. Identify the next actions, who is responsible and what evidence would change the decision. Keep unresolved legal, tax, licence or financing questions visible instead of treating them as settled.

Before commissioning a plan, prepare a short brief covering its purpose, intended reader, actual deadline and available material. Agree on the deliverable, review process and fee. No plan can guarantee funding, approval or business performance.