Starting up
The personal survival budget for a Start Up Loan, explained
The personal survival budget shows you can live while the business grows. What it covers, the fourteen categories to prepare, and how myplan builds it.
The personal survival budget shows the scheme you can live while your business grows. It is a personal budget, not a business one. It covers your household’s monthly income and outgoings, backed by your last three months of bank statements. myplan builds it in the Start Up Loans required format through two short conversations.
Section 01
What is the personal survival budget for a Start Up Loan?
In the workbook’s own words, it helps determine whether you can meet your monthly Start Up Loan repayments. If your outgoings beat your other income, the difference becomes the salary your business must pay you. That salary flows into your cash flow forecast automatically. Your forecast has to support it.
Two rules catch people out. Only include income that continues: if you are leaving a job to run the business, that salary does not count. And your figures should match your bank statements. A budget that disagrees with them is a top delay trigger.
Section 02
The fourteen categories to have figures for
The workbook expects a monthly figure for each of these that applies to you:
- Rent or mortgage payments, council tax, utilities, phone and internet, TV Licence.
- Personal and property insurance, grocery shopping, transport costs, car tax and insurance.
- Subscriptions, clothing, leisure and entertainment, money put into savings.
- Credit commitments: loans, cards and finance agreements. Not your Start Up Loan repayment, which lives in the cash flow forecast.
Combined figures are fine. “Bills, about £300” works, and myplan asks once for a rough split.
Section 03
What happens if it shows a shortfall
myplan shows it to you plainly before the section can finish. That is not a rejection. It is the honest number the rest of your plan is built on. Knowing it in month 0 beats discovering it in month 6. A modest, true budget reads far better than an impressive one your statements contradict.
To gather your figures first, download our personal survival budget preparation guide. Then take the 60-second check before applying for a Start Up Loan. bizbritain is an FCA-authorised finance broker and a Start Up Loans Business Support Partner, with a panel of 100+ lenders.
This guide is general information, not financial advice. Applications are subject to status, affordability and lender criteria.
Read the guides · ready to apply?
Got a question the guide didn’t answer? Talk to an advisor.
We’ve backed thousands of British founders. If you’ve read the guide and you’re ready to find out what a Start Up Loan could do for your business, our advisors are on the phone now.