Rachael
Verified member
I am quite sure that we all have an idea about what a business plan entails. Well, to make it more vivid, a business plan is just like a guide, which is set out o help and guide a business owner throughout his business venture. It is not surprising to note that, there are many business owners who operate without the presence of a business plan and some are still thriving successfully, while some has faced decline. I do not think that a business plan is a yardstick to having a successful or sustainable business but this does not mean that, it does not have its own usefulness. Most large scale businesses have a business plan but small scale business owners to a larger extent do not operate using a business plan. A faulty business plan can lead to the brain behind a failed business and that is why, when setting up a business, there are major concerns that should not be skipped or placed down haphazardly. A perfect business plan to a greater extent could determine the success of a business and its potential for a long-term sustainability. The business idea; location, competition, market base, capital, government policies, sustainability, the suppliers and the experience should all be determine on a perfect business plan.