2.1.4 business plan

Question 1

what is a business plan?

Answer 1

a detailed description of a business, including company strategies, aims etc

Question 2

what does a business plan provide for others?

Answer 2

helps potential funding and investors understand what the business wants to achieve and gain

Question 3

what are the contents of a business plan?

Answer 3

- executive summary
business idea 
aims + objectives
market research
financial forecasts
sources of finance
premises and equipment
personnel
buying and production

Question 4

what is the purpose of a business plan?

Answer 4

• to secure external funding
• helps identifies any problems
• sets targets and can see of the business is developing
• realistic expectations