As a Nigerian entrepreneur looking to start a business in the UK, one essential tool for business growth is a well-structured and well-written business plan. This is because a business plan helps you define your business goals, strategies, vision, and mission in such a way that it is clear to your business partners and investors. A business plan gives an outline of your business, the market in which it will operate, and how it aims to make money. And it should answer this question of why your business will succeed where so many others fail.
However, creating a business plan for a UK-based business, especially as a Nigerian entrepreneur, can be quite overwhelming. This is because a business plan for a UK-based business must be in sync with specific industry expectations, UK standards for business, and it might be quite different from what works for your Nigerian-based business. Doing this all by yourself can be a hassle, but you don’t have to do it alone.
Several free UK business plan templates are designed to ease the stress of creating one from scratch. These templates can be accessed for free and are much easier to use, especially if you are just starting your business in the UK. They are not only time-efficient, but are also useful in helping you with what the UK government, investors, and others look for in a well-structured business plan. In this article, we have listed 6 free UK business plan templates that are useful for Nigerian entrepreneurs, regardless of what sector or industry your business functions in. These templates would help you give structure to your ideas and help you develop a better strategy for your UK-based business.
Free UK Business Plan Templates For Nigerian Entrepreneurs
There are so many UK business plan templates available online. However, not all of them are in sync with what works for the UK market, especially for a Nigerian entrepreneur just starting a business in the UK. That is why we have selected 6 top free UK business plan templates based on usability and how well they align with the UK government standards and the expectations of your investors.
GOV.UK Business Plan Template
This is one of the most reliable business plan templates in the UK that you can use, especially as a Nigerian entrepreneur. First of all, it is provided directly by the UK government via its official website, and you are assured that you will meet the requirements of the UK financial institutions by using this template. It is structured in such a way that it helps you communicate your business idea clearly, especially if you would be applying for a UK startup loan or registering for any business funding opportunities. If it is your first time preparing a business plan for your UK-based business, this is a great choice for you. This is because it provides useful prompts that serve as a guide to completing each section of the business plan. This makes it very easy to use, too. It is easy to download and can be downloaded in PDF or DOCX format.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- It allows you to easily customize with NGN‑to‑GBP conversions.
- It gives you access to guidance from the Nigerian‑British Chamber of Commerce to explore export/trade routes.
- It gives you a solid foundation for registration with Companies House and Home Office visa applications.
To access the GOV.UK Business Plan Template, go to GOV.UK’s “Write a business plan” page and download the template.
Start Up Loans Business Plan Template
This business plan template was developed by the British Business Bank, and it was designed specially for entrepreneurs looking for start-up funding from the government. However, it is still suitable for use, even if you are not looking for government-backed funding. This template is structured to meet the requirements of the UK financial institutions and also has a built-in financial forecasting tool that helps you present realistic numbers in your business plan. The built-in financial forecasting tool also includes a personal survival budget sheet, cash flow projections, and profit and loss estimates—all of which are essential components of a strong business plan, especially when presenting to your potential investors or applying for funding. Lastly, if you do not have a solid business plan, but you have a great idea, this template can provide you with a good head start.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- Its currency model supports dual‑entry for NGN and GBP.
- It has a rent-out survival plan that can help Nigerian entrepreneurs who are migrating temporarily.
To access the StartUp Loans Business Template, you can download it for free here.
Sage UK Free Business Plan Template
This business plan template was designed by Sage, which happens to be one of the leading software providers in the UK. And if you want a simple and structured approach to business planning, then this template is ideal for you. It is structured to meet the requirements of the UK financial institution and covers essential sections of business planning. Sections like your business overview, target market, marketing strategy, competition, and even financial forecasts. It is easy to download and edit in Word format. It is also structured to help you deliver on what UK investors and banks expect from you as an entrepreneur. If you plan to use the Sage accounting software for your business, this template is highly recommended for you.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- It includes tax guidance, which is useful when operating under a UK legal entity.
- It adds credibility when combined with Nigerian‑UK digital trade.
To access the Sage UK Free Business Template, go to the Sage UK official website and search for “free business plan template” in the resources section, and download it there.
Startups.co.uk Business Plan Template
This template was designed by Startups.co.uk, one of the biggest and longest-running platforms for startup advice in the UK. It is one of the most beginner-friendly business plan templates available for entrepreneurs in the UK, especially if you are in the startup phase. Just like every other standard business plan template in the UK, this template covers key areas like marketing strategy, competitor analysis, financial projection, etc. It is designed to meet the requirements of the UK financial institutions. The template also offers tips that give you a clear idea of what to write and how to write it. This is what makes it one of the best choices if you are writing a business plan for the first time.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- It helps to align Nigerian‑UK small-business strategies, especially for e-commerce or tech.
- It has a SWOT section that prompts specifics like exchange-rate volatility.
To access the Startups.co.uk Free Business Template, go to the website and search for “business plan template” in the resources or guide section, and download it there.
Wenta Business Plan Kit
The Wenta Business Plan kit is different from other templates because it is more than just a business plan template; it is a complete business toolkit. On one hand, Wenta is a UK-based business support system that offers free advice and startup training to entrepreneurs. This is one reason the business plan kit is ranked as one of the best for UK-based businesses. It gives you a blend of business planning, expert guidance and and financial support all in one place. It is also designed specifically for UK businesses and startups, which makes it one of the best choices if you are just starting up your business in the UK. It is also very easy to use and has simple instructions to guide you through the usage. Just like every other standard business plan template in the UK, this template covers key areas like marketing strategy, competitor analysis, financial projection, etc. It is also designed to meet the requirements of the UK financial institutions.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- It is suitable to use when applying for loans in the UK
- It allows you to adopt Wenta’s market research prompts for Nigerian digital markets.
- You can highlight remittance, diaspora networks, and delivery logistics between Nigeria & UK.
To access the Wenta business plan kit, go to the website and search for “business plan template” in the resources or guide section, and download it there.
LawDepot UK Business Plan Template
Unlike the regular business plan templates in the UK, the LawDeport UK Business Plan uses a form-based system. With this system, you just have to answer a series of questions about your business, like the industry your business operates in and your business structure. After answering the questions, it will generate a professional business plan for you in minutes. It is very easy to use and doesn’t require any form of formatting. It covers every necessary element of a structured UK business plan, and it is also aligned with the requirements of the UK financial institutions.
Some of the reasons it is extremely relevant to the Nigerian entrepreneur are these:
- It helps entrepreneurs document legal structure, director responsibilities, IP, and contracts.
- It is useful for planning registration as an LLP or Ltd.
- It also clarifies shareholder agreements, IP protection, and limited liability.
You can access this business plan template here.
How to Choose the Right Template for Business
Considering the availability of so many business plan templates, we know that choosing the right template for your business can be quite a hassle. This is because you would be trying to meet the requirements and standards of the UK financial institution, and still trying to meet the needs of your business. However, here are the key factors to consider when choosing a free UK business plan template as a Nigerian entrepreneur.
- Business Stage: You must understand that what works for a startup business might not work well for a business that has scaled beyond the startup stage and is looking towards expanding. If you are in your startup phase, you should choose a template that is easy to use and beginner-friendly.
- Your Business Industry: Some templates are specific to some industries, i.e, they are better for some industries than others. So you should ensure that the template allows room for strategies that are specific to your business industry.
- Usability: You should consider whether it is easy to use and if it gives you exactly what you want. If you want a template that gives you full control and is flexible enough for you to make edits, you should go for templates like the GOV.UK business template or the Start Up loans business templates. If you want a form-based template, then you can choose the LawDepot business template.
- UK Compliance and Investor Appeal: You must ensure that the template is in sync with the requirements of the UK financial institutions, banks, investors, and government programmes. This is so that your business plan doesn’t get rejected by higher authorities, especially when you want to apply for loans.
- Access to support and other tools: Some templates come with extra tools like financial forecasting sheets, business mentoring resources, and guides to help you build a stronger plan.
