Theme 2:The business plan

A concise overview of the business purpose and opportunity.

Specific, measurable, achievable, realistic, and time-related targets to measure success.

Investigation into the target market, competitors, and overall market.

Predictions on costs, revenue, profit, and cash flow.

Plan for financing the business and repayment of borrowings.

Location rationale, financing, and necessary equipment.

Organizational chart detailing responsibilities, skills, and qualifications of staff.

Information on product production and supplier details.

Detailed planning reduces risks associated with unforeseen problems and poor decision-making, increasing the likelihood of success.