WHY PREPARE A BUSINESS PLAN?

The most important step in launching any new

venture or expanding an existing one.
BUSINESS PLAN

A business plan must include

Your goals for the enterprise, both short and long
term;
A description of the products or services you will
offer and the market opportunities you have
anticipated for them;
Finally, an explanation of the resources and
means you will employ to achieve your goals in
the face of likely competition
 BENEFITS FROM PREPARING A BUSINESS PLAN
 This systematic approach to planning enables you to make
your mistakes on paper, rather than in the marketplace.
 A business plan will make you feel more confident about your
ability to set up and operate the venture. It may even
compensate for lack of capital and experience, provided of
course that you have other factors in your favour, such as a
sound idea and a sizeable market opportunity for your product
or service.
 Your business plan will show how much money is needed,
what it is needed for and when, and for how long it is required
 Preparing a business plan will give you an insight into the
planning process. It is this process that is important to the
long-term health of a business, and not simply the plan that
comes out of it.
REFERENCES
THE BUSINESS PLAN WORKBOOK
the definitive guide to researching, writing up and
presenting a winning plan

COLIN BARROW, PAUL BARROW

AND ROBERT BROWN
based on methodology developed at cranfield school
of management
6th edition