Business Plan Flashcards
What is a business plan
A step by step guide which an entrepreneur complies in order to tranform his or her ideas into a business or undertaking
Purpose of a business plan for the entrepreneur
To indicate whether the business will be successful or not
Assist in determining if the target market is large enough for good or service to be offered
Indicates or gives idea when business will become profitable
If capital is obtained - the plan will have to be presented to them
Can be used to attract potential investors
Used to measure the success of the undertaking or to improve business
Components of a business plan
Marketing plan
Goods/transformation of ideas into business
Production plan
Financial plan- prediction of costs, sales, profit percentage
Management plan- who will manage business
Information about business
Format of a business plan - A Cover Page
Contact details of the business and of owners
Logo
Type of enterprise
Date of business plan presented
