Business planning
- Created by: Sammy33856
- Created on: 24-03-15 19:04
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- Business planning
- Purpose of business planning
- To obtain finance e.g. Bank Loans
- To estimate Costs and Revenues
- To help predict any problems that may arise
- To look what the firm can realisticaly acheive and measure preformance
- To outline who is responsible for what
- Content
- Legal details e.g.Name
- Ownership e.g. type of ownership within the business
- Financial forecast
- Sources of finance
- Market research findings
- A business plan is a written document that describes a business, its objectives, its stratergies, the market it is in and its financal forecast
- A business plan is used both internally, for use by the company managment, and externally, by banks and external investors
- advantages of having a business plan:
- Being able to check if you have reached/met your target. it allows them to check back and monitor their success
- Allows you to check it is a sutiable plan/ business idea as will show you financial aspects to see if your business will be successful
- Purpose of business planning
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