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INSTITUTE
DPPM(EVE)
Business Planning Process for SMEs
BY
HENRY BAGAMBE
0772823610
henrybagambem@yahoo.com
INTRODUCTION
• Planning is a process than never ends for a
business.
• As the venture grow up to mature business,
planning will continue.
WHAT IS A BUSINESS PLAN
• A business plan is a written document prepared
by the entrepreneur that describes all the
relevant internal and external elements and
strategies for starting a new venture.
Cont’d
• It is a integration of functional plans such as
marketing and sales, finance, manufacturing,
and management team and human resources
etc.
• A Business Plan is a written document that
defines the goals of your business and describes
how you will attain those goals.
• A Business Plan is worth your considerable
investment of time, effort, and energy.
Cont’d
• A Business Plan sets objectives, defines budgets,
engages partners, and anticipates problems
before they occur.
• Who should write the plan?
• The business plan should be prepared by the
entrepreneur.
• The entrepreneur may consult with many other
sources in its preparation, such as lawyers,
accountants, marketing consultants, engineers
and other consultants..
Who Reads The Plans?
• The business plan may be read by employees,
investors, bankers, venture capitalists,
suppliers, customers, advisors, and
consultants.
• There are three perspectives that should be
considered in preparing the plan :
• Perspective of the entrepreneur
• Marketing perspective
• Investor’s perspective
Reasons Why You Need a Strong Business
Plan
• To attract investors.
• To see if your business ideas will work.
• To outline each area of the business.
• To set up milestones.
• To learn about the market.
• To secure additional funding or loans.
• To determine your financial needs.
• To attract top-level people.
• To monitor your business.
• To devise contingency plans.
Information Needs