1. * What is a Business Plan and when is it used?
07/16/96
BUSINESS PLANNING
What is a Business Plan and when is it used?
There is a link on the Business Plan image to youtube for a 3 minute intro to Business Planning. *

2. *
07/16/96
Business Plans
Show potential investors that the ideas for the business have been well thought out
For any business just starting out or considering expansion, a business plan is essential *

3. Who sees the Business Plan?
Bank
Investors
Local Enterprise Company
Government Agencies

4. Contents The Business - name, type of organisation, location*
07/16/96
Contents
The Business - name, type of organisation, location
Business Objectives
Product/Service
Marketing - market research, market segment, promotion proposals
Human Resources - staffing, training
Production Plans - stock, method of production, equipment required
Finance - capital/borrowings, predicted profits, cash flow
You could show the 27-page template for a Business Plan – we will be using a more condensed version! *

5. RISKS OF SETTING UP IN BUSINESS*
07/16/96
RISKS OF SETTING UP IN BUSINESS
The product may not sell
The firm may not be profitable
Loss of investment by owner
Poor cash flow – cash may run out *

6. Task To Reduce Risks Carry out MARKET RESEARCH*
07/16/96
To Reduce Risks
Carry out MARKET RESEARCH
Calculate estimated COSTS and INCOME
Seek business and financial ADVICE
PLANNING – look ahead, dealing with future needs
And produce a BUSINESS PLAN
Issue Task (paired or group) and blank template.
Task *