Business planning

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  • Business planning
    • Purpose of business planning
      • To obtain finance e.g. Bank Loans
      • To estimate Costs and Revenues
      • To help predict any problems that may arise
      • To look what the firm can realisticaly acheive and measure preformance
      • To outline who is responsible for what
    • Content
      • Legal details e.g.Name
      • Ownership e.g. type of ownership within the business
      • Financial forecast
      • Sources of finance
      • Market research findings
    • A business plan is a written document that describes a business, its objectives, its stratergies, the market it is in and its financal forecast
    • A business plan is used both internally, for use by the company managment, and externally, by banks and external investors
    • advantages of having a business plan:
      • Being able to check if you have reached/met your target. it allows them to check back and monitor their success
      • Allows you to check it is a sutiable plan/ business idea as will show you financial aspects to see if your business will be successful



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