business plan

• What is the purpose of the business summary in a business plan?

  To describe the product or service
• Why should the business summary persuade investors?

  It aims to attract potential funding
• What should the business details section include?

  Goals, objectives, unique selling point
• How does the business details section suggest business operations?

  By outlining legal structure and recruitment
• What types of evidence are included in market research?

  Questionnaires, internet sources, books
• What is the main purpose of market research in a business plan?

  To support the business plan with evidence
• What does the marketing section outline?

  Strategies to attract customers
• What are the 4Ps included in the marketing strategies?

  Product, Price, Place, Promotion
• What does the day-to-day plan describe?

  Production methods, suppliers, competitors
• Why is it important to outline equipment in the day-to-day plan?

  To identify necessary resources for operations
• What should the finance section show?

  Costs of setting up the business
• What financial aspects are included in the finance section?

  Cash flow forecast and predicted profits
• What is the purpose of the statement of financial position?

  To summarize the business's financial status