Business Plans

“A failed business did not plan to fail – it failed to plan”

What is a Business Plan? It is a written document which sets out the following: Who is setting up the enterprise What is the product/service How it is going to be produced and promoted Where it is going to be sold Where the finance will come from

Tips for Writing a Business Plan Accuracy Brief Clear Realistic Advice

Why prepare a Business Plan? It states the goals and objectives of the business and how these are to be achieved It helps an entrepreneur think through their ideas and anticipate possible problems and how to overcome them It is required by financial institutions, county enterprise boards etc when finance or assistance is being sought It sets targets against which to measure the actual performance of the business

Elements of a Business Plan Business Description Personnel Marketing Production Finance Other relevant information Business Plan

Remember…. In business there will be short term and long term goals A Business Plan must be flexible to allow for the changes necessary to cope with unforeseen events A Business Plan is not a once off document but a guide to assist in managing your business. A business will have to be updated and revised as the business progresses