What is a business plan What is it good for

What and whys It is a document which sets out a detailed plan for the business, including an explanation of the product and how it fits in the market, a marketing and operational plan, and details of finance It is used to persuade outside investors and lenders (banks) to invest in the business or to lend money It is also useful for the owner in order to confirm his idea is commercial

The content of a business plan What do you think should be in a business plan? Young Enterprise ladies….

Contents of a business plan Executive summary Short and compelling to persuade the reader (eg banker) to read more The product/service Described in an exciting way The market Size and trends (particularly growth trends) Marketing plan Target market and how to communicate to them. Prices and forecast sales for the first 2 years

Contents of a business plan Operational plan How (and where) will the product/service be produced and delivered Financial plan Forecast of the finances of the business for the first 2 years Most importantly a cash flow forecast by month Conclusion Quick summary but also about the long term prospects