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BUSINESS PLAN

INTRODUCTION

A business plan is an important document for any business and it can be written for a variety
of reasons. Internally, it can help owners and managers crystallise their ideas, focus their
efforts and monitor performance against established objectives. Externally, the business plan
can act as a…

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CONTENTS

The business plan should summarise the proposed activity and the prospects for success
for the venture, paying particular attention to factors that are critical to success or failure.

The contents should be tailored to the particular individual requirements, circumstances or
characteristics of the proposal. However, in general, they commonly…

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SUMMARY

Although preferably written last, the summary should appear at the front of the proposal.

It is essential that the summary 'catches the eye' and grasps the imagination of the reader by
providing enough information for him to decide in principle if he could be interested in the
deal.

Financiers…

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CURRENT POSITION

This section should be a brief resume of the stage the business has reached and how the
company has developed in the last few years, with reference to factual information

The following questions should be addressed:

What is the corporate structure?

Who owns the company?

Who are the…

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OBJECTIVES

The business plan should include a clear and concise statement of the current objectives.
Some factors are easily measured such as turnover or profitability targets. Others are,
however, more qualitative in nature and these should not be disregarded simply because of
their subjective nature. It is important to recognise…

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MARKETING PLAN

This is a vital area, which should be explained in detail. The location and size of your market
will need to be defined, together with your share of the total. Where relevant, you may need to
involve third parties to substantiate your claims guesswork will not do!

You…

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OPERATIONS PLAN

This section may seem more relevant to a manufacturing business but applies equally to
other industries and service companies. Existing products or services should be considered
in turn, and thought given to how each can be improved, developed or replaced to maintain
competitiveness. Furthermore, if goods are being…

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MANAGEMENT AND STAFF

It is said in the industry that financiers back people not businesses. The quality of the
management team is recognised as the key factor in any investment decision. The
importance of this should be borne in mind both when preparing the plan and during
negotiations with potential…

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FINANCIAL PLAN

Many business plans fail to raise finance due to the inadequacy of the financial information
provided. Investors will be assessing the projected funding requirement and the anticipated
profitability to establish whether the proposition is commercially viable, and the potential
return sufficient. Ensure that the financial plan reflects the…

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INFORMATION AND CONTROL

Writing a business plan is not a oneoff exercise. It becomes a more valuable management
tool by being used and reviewed regularly as the business develops.

Internal review of the business is only possible by ensuring that adequate management
information and control systems are in place. Furthermore,…

Comments

davidsalter

This is a very detailed document showing what should go into a business plan. Students could make up their own business and complete it. It is more detailed than is needed for GCSE but would be suitable for A level students.

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