Business Studies Collins Revision Guide. - StudyGuide.PK

BUSINESS PLANS (1)What is a business plan?●A business plan is a document produced before a business iscreated, giving details of all aspects of the proposed business. Theowners usually write the plan, often with help given by advisorsfrom the banks or business advisors.What does a business plan contain?●A business plan would include the following:ContentNames, addresses andcontact numbers of ownersBusiness structure:sole trader, partnership, etcAims and objectivesMarket researchMarketing informationDetails of the proposedproducts or services and ananalysis of the competitionStaffingFinancial information,accurate details of assetsowned by the businessand liabilities. Forecasts ofcash flow and break evenReasonsSo that anyone looking at the plan can contact themSo that others, such as a bank, can see who is theowner and thus responsible for the businessSo that the owners and managers can see what thetargets are and any key dates for the businessSo that possible investors can see if there is provendemand for the goods and the business is likely tosucceedDetails of the proposed marketing mix, to assess itslikely chances of success and if it is affordableTo see if enough thought has gone into makingthe product/service uniqueTo see if the proposed staffing is able to cover allmajor jobs within the business and that not toomuch is being spent on staffTo help determine the likely chance of running intodifficulties. A bank would want to see that theinformation and predictions were realistic.33