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Biz Planning

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Once you’ve completed the feasibility study of your new business you’re ready to construct your business plan.
Your business plan is an essential part of your business start up requirements. It let’s you focus on where you want your business to go and gives you the directions to get there. Its essentially a way to achieve your business goals.
The plan is also a guide to financiers who are interested in lending you money for your business.

There are no hard and fast rules about what a business plan must cover but here are basic elements you should include

  • executive summary – a one-page overview written after the business plan is finished
  • introduction – explains the purpose and objectives of going into business. It should include the following areas.Mission statement
    Business objectives
    Name address and contact details
    Description of business activity
    Competitive advantage
    Owner profile
    Major clients
    Licences, permits and registrations
    Business advisors
    Current performance
  • marketing analysis – looks at the industry you are entering and how you fit in and your market strategyMarket and situation analysis
    Marketing plan
    Market segmentation and customer analysis
    Objectives and goals
    Strategies
    Budgets and controls
  • operational plan – how you’ll set up the business, i.e. structure, location, regulationsLocation and premises
    Business structure
    Permits and licences
    Plant and equipment
    Inventory/stock
    Staff requirements
    Environmental strategy
  • management plan – how you’ll manage your business
  • financial plan – How you will make the business viable and in what time frameFinancial objectives
    Capital structures
    Sales forecasts, debtor collections and payments to creditors forecasts
    Cashflow forecasts
    Income statement and balance sheet forecasts
    Breakeven analysis

You can find a business plan template here

 


 

 

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