Ephy
Active member
Business plan is a document written by an entrepreneur showing aims and objectives of a business.
Contents of a business plan
1. Name of the business e.g Ephy enterprise.
2. The products or services to be offered.
3. Human resources needed e.g Labourers.
4. Financial resources needed e.g capital to start the business.
5. The market to serve or the customers.
6. Summary of the plan.
Uses of a business plan.
1. Used to obtain loans from banks and other financial institutions.
2. It helps the entrepreneur to outline the competition within the area or the location of the business.
3. Used to provide guidelines for opening a new business or expanding an existing business.
4. Used to facilitate business evaluation to assess progress.
5. Used as a tool for management of the business.
6. Used to communicate to outsiders about the goals, objectives and activities of a business.
7. Used to identify strengths and weaknesses of a business.
8. Used to motivate employees working in the business.
9. Used as a tool to control planning as it involves setting of standards against which performance is assessed.
Contents of a business plan
1. Name of the business e.g Ephy enterprise.
2. The products or services to be offered.
3. Human resources needed e.g Labourers.
4. Financial resources needed e.g capital to start the business.
5. The market to serve or the customers.
6. Summary of the plan.
Uses of a business plan.
1. Used to obtain loans from banks and other financial institutions.
2. It helps the entrepreneur to outline the competition within the area or the location of the business.
3. Used to provide guidelines for opening a new business or expanding an existing business.
4. Used to facilitate business evaluation to assess progress.
5. Used as a tool for management of the business.
6. Used to communicate to outsiders about the goals, objectives and activities of a business.
7. Used to identify strengths and weaknesses of a business.
8. Used to motivate employees working in the business.
9. Used as a tool to control planning as it involves setting of standards against which performance is assessed.
