Business plan

GUIDE TO WRITING YOUR BUSINESS PLAN INTRODUCTION A business plan is an important document for any business and it can be written for a variety of reasons. Internally, it can help owners and managers crystallise their ideas, focus their efforts and monitor performance against established objectives. Externally, the business plan can act as a medium for attracting finance for start-ups or expansion. There are many books and publications, which tell you how to write a business plan, what it should contain and how it should be used. This one is different. This is a work-pack specifically designed for those who wish to raise finance. For many people, the experience of raising finance is a new one. The importance of the plan to this process cannot be overemphasised. Many opportunities presented to financiers are subsequently rejected. It is essential, therefore, that the entrepreneur prepares a quality document. The objective of this work-pack is to help you prepare just such a document by providing you with the headings which need to be covered. The sections which follow outline the contents of the business plan. We hope that you will find the comments relevant and thought provoking and that you will be able to use these thoughts as a basis for preparation of a business plan which will adequately convey your ability to succeed. CONTENTS The business plan should summarise the proposed activity and the prospects for success for the venture, paying particular attention to factors that are critical to success or failure. The contents should be tailored to the particular individual requirements, circumstances or characteristics of the proposal. However, in general, they commonly fall within the following categories Executive Summary Current position Objectives Product/Service and Operations Marketing and Sales Plan Competition Management and Staff Financial plan Information and control Risk factors and mitigation We believe that the business plan should be written by you,