But consultants setting up their own business might not need much funding – if any.
It's still important to have a business plan though – not only to clarify the details in your own mind, but also to help you understand the potential risks and rewards.
If you’re a self-employed consultant your work isn't like other forms of business.
Unlike retailers or manufacturers, you're not making and/or selling tangible products.
But it can be very helpful in guiding you through the early part of your consulting career.
Business plans can be difficult documents to write.
The point of writing it is to concentrate on what's important. So don't look at a business plan as just another box to be ticked.
It's a fundamental process when starting any business, particularly a consulting business where you will need initiative and drive to succeed.
If you've never done it before, thinking clearly and logically about your business strategy may not be easy.
Here are some tips to help you succeed: A business plan isn't a static document.