Busines Plans Flashcards

1
Q

Business plan

A

Written document that outlines aims and objectives for a busines

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2
Q

Importance of business plan

A

Test feasibility if ideas, to secure funding, make business planning manageable

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3
Q

Who’s interested in business plans

A

Shareholders, suppliers, employees, bank

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4
Q

What’s included in a business plan

A

Workforce plan, cash flow forecast, marketing plan, financing proposals, break even analysis

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5
Q

Benefits of business plan

A

Make businesses consider external factors, forces business to consider all eventualities, helps efficient allocation of resources, lower interest rates from bank

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6
Q

Limitations of business plan

A

Ability to implement plan, hard to get her research in some markets, financial forecasts based on inaccurate info, external factors

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