Business Management

• An executive summary is a brief overview of the entire business plan.

  
• The main aim of a business plan is to convince investors to invest money into your business idea.
• A business plan is an outline that describes the nature, purpose, products or services, management structure, marketing strategy, financial projections, and other relevant information about a new venture.
• Product refers to goods or services offered by a company.
• Market research involves gathering information about customers' needs and wants, as well as their preferences regarding products or services.
• A mission statement describes what an organization does, who it serves, how it operates, and why it exists.
• SWOT analysis stands for Strengths, Weaknesses, Opportunities, Threats.
• Business plans are used by entrepreneurs as roadmaps to guide their businesses towards success.
• VAT is a tax on the sale of goods and services that is ultimately paid by the consumer.
• PAYE is a system of income tax collection where employers deduct taxes from employees' salaries.
• NICS are contributions paid by individuals and employers to fund state benefits.
• Corporation tax is a tax on the profits of corporate entities.