Why is business plan important anyway?
Before answering this question, it should be initially asked for which context you need a business plan. A business plan in Germany could be written for a bank, an investor or even getting a residency. We can help you develop your business plan for all the above-mentioned purposes, whether you need to apply your residency in Germany or you are already settled down and seek for a bank loan to finance your project. In this section, we will try to have a quick description of both.
Business plan is actually the most important document for the whole project of business immigration in Germany. If you check any type of residency, you will notice that each residency has one particular document that is more important than others. For example, for students, the university admission is the main document while for employment this is the employment contract which plays the main role.
For residency under self employment this is your business concept or business plan which makes the most effect. The business plan in this context should always answer two important questions:
- is the concept economically interesting for the region and the target city?
- is the business owner qualified enough to operate this business and be successful?
A good business plan should answer both questions in the most perfect way. That’s why if your business developer cannot quite catch for what reason he writes the business plan he simply can lose the case. Because the criteria of different authorities to approve a case is different.
The business plan for the Germany residency should be quite detail oriented and try to focus on the economical indexes that are interesting for the city. Also it should perfectly demonstrate the qualification of the business owner and match those qualities with the requirements of that particular city. Quite obviously the outputs of the location analysis project could be the perfect input for creating a harmony among the investors’ qualification, the type of business he is willing to do and also the requirements of that particular city.
A business plan should not a static document like a questionnaire filled with a lot of static information. It should have a dynamic character perfectly tailored to the economical requirements of the target city. In other words it should have the spirit of the investor in it meaning that when someone wants to read and evaluate it, she really imagines that the person behind this business plan is in front of her talking and presenting her case to her.
This is the ideal business plan we are always aiming to develop for our clients who are willing to get the Germany residency.
On the other hand, if we want to write a business plan for you with the aim of getting you a bank loan, the whole criteria will change. In this case, the bank is not a city authority to check if the macro-economical objectives are fulfilled. quite contrary bank might search for something in an apposite direction. For example they might case about the start up costs and how you can minimize them or if you have a minimum capital required to support the idea (not the amount that city might want)
As you can see, depending on the context the business plan will also change, so it is very important to check in advance whether your business plan developer has the enough experience to create a business model that is perfectly tailored to your goals in Germany.
We can help you perfectly with that. You might want to contact with us!