A common reason for an entrepreneur to write a business plan is to use it as a financial proposal. Two of the most common sources of funding is the bank and an equity investor. The two financier groups however have different requirements for a business plan. Published business plan guides have received criticism for being too generalised when it comes to meeting the requirements of financiers.

This study takes the perspective of an entrepreneur seeking funding for their new business idea. The aim is to examine the differences between the requirements of a banker and an investor regarding the content of a business plan.

A case study was conducted to research the requirements of a banker and an investor. The study consists of two sections, a literature review to collect secondary data and two interviews with an investor and a representative of a bank to collect the primary data. A business plan was prepared for a real life business idea, It was based on a business plan content framework which resulted from the literature review. The plan was then presented to the banker and the investor for appraisal.

The analysed appraisal meetings showed clear differences between the banker and the investor regarding what information they were looking for in the business plan. The banker relied on financial and sales information in order to make a decision, whereas the investor was keener to discover the characteristics and the skills of the entrepreneur.

The business plan used in the study is confidential and therefore excluded from the public report.