Business Plan
Write a comprehensive business plan
Writing a Business Plan
A comprehensive business plan is essential for starting a business and getting funding. It covers: executive summary, business description, market analysis, marketing strategy, operations plan, financial projections and management team. Banks and investors require a business plan before lending money.
Example
Business Plan Sections
1. Executive summary: One-page overview of the whole plan
2. Business description: What you do, your mission and goals
3. Market analysis: Who are your customers? Who are competitors?
4. Marketing plan: Product, price, place, promotion strategies
5. Operations: How you will produce/deliver your service
6. Financial plan: Start-up costs, projected income, break-even
7. Management: Who will run the business? Their skills?
Keep it clear, realistic and evidence-based.
Note
Remember
A business plan is a living document — update it as the business grows. Be realistic in financial projections (don't over-estimate income or under-estimate costs). Research your market thoroughly. In SA, organisations like SEDA (Small Enterprise Development Agency) help small businesses with planning.
Key Vocabulary
Business planA detailed document describing how a business will achieve its goals
Executive summaryA brief overview of the entire business plan
Market analysisResearch into customers, competitors and market size
Financial projectionsEstimated future income and expenses
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Business plan
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