2.1.4 Business planning Flashcards
1
Q
What is a business plan
A
It is a document provided by the business and it is required to help a finance application
2
Q
What are the purposes of a business plan
A
- provide clear direction for the business
- flag up any potential problems
- provide an action plan
3
Q
What are the contents of a business plan
A
- business summary
- business opportunity
- buying and production
- business and objectives
- personell
- premises and equipment
- finance
4
Q
Advantages of a business plan
A
- help with finance application
- help make future decisions
5
Q
Disadvantages of a business plan
A
- may not be accurate
- doesn’t take into account external shocks
