Business plan

• A business plan is a plan for the development of a business
• The business plan may contain the products it aims to sell, the resources needed and forecasts such as costs & revenues as well as cash flow
• The business plan must contain the name of the business, an executive summary of the business, financial information, human resources (No of employees, departments etc.), 4 P's (product, place, promotion, people)
• Why write a plan? Alleviate some risk, produce clear SMART targets + objectives for the business, persuade investors to provide finance, monitor performance, clear summary of the businesses pathway