What is a business Plan?
- A business plan is to show how a business will develop over a period of time.
- " A written document that describes the business, it's objectives, its strategies, the market it is in and its financial forecasts."
- The plan enforces the upcoming entrepreneur to look at every key aspect of the future business. It can also help to get loans from banks as it allows them to see your plan and what direction you are heading, they can analyse the probability of success that your business can achieve, so they don't give out loans to a business that could fail. Also they are very useful once the business begins to trade.
Who is a business plan useful for?
- Bank managers use it as they will use the plan to decide whether they want to give them a loan or not. If you don't have a…