Devloping a business plan

everything about business plans that are needed for the BUSS1 exam

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Developing A Business Plan
A business plan is very a report describing the marketing strategy, operational issues and
financial implications of a business start up. Drawing up a business plan is an important
step in setting up a new business, the benefits of a business plan are:
It helps an entrepreneur to set clear objectives
Guides the entrepreneur towards strategies/actions that will allow objectives to be
reached
Persuades lenders to invest capitol into the business (gaining money for the business)
Helps the running of the business as you can look back at the report and review how
close to the objectives you are
It encourages entrepreneurs to plan ahead in a realistic way
The business plan must contain:
Details of the entrepreneur (name, financial situation, CV, experience)
Details of the business (location, product/service, name, legal structure)
Staffing (how many, what experience)
Objectives (what the business plans to achieve
Production plan (how goods/services will be created, what's involved; staff,
materials, resources)
Details of fixed assets (property, machinery, equipment)
Financial information (cash flow forecast, profit and loss account, balance sheet)
Details of finance that is needed (lenders, shareholders)
Collateral that can be offered (house, car)
Long term forecast of the business
SWOT analysis

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