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Importance Of A Business Plan Essay

1772 words - 8 pages

A business plan is a way of reaching a company’s goals usually a formal statement. In this statement there can be information on the background of the organisation of the company.
Asma has completed a basic business plan for her business, a business plan is used by a business to try and get other business / companies to invest in their business, a business can be set up so that the business will advance in the future. In the business plan it will include things from promoting to plans of the business and who her costumers could be.
A business plan can help expand your business, depending on your location, specific market and hard work there are many other elements .Businesses that use a business plan are usually more organized this will influence their growth because companies will look at their business plan. Bankers will also look at the plan to make the decision if there are going to invest in the company and trusting them that the business will lift off and bring money in to the business in the future.
The business plan will help the business strategy, priorities and specific action points with the partner or significant other. Your business plan will make it easier for other investors, companies and other people that are involved or wanting to getting involved with the business making it easier for Asma.
Most people assisted with business agree on this one point securing funding almost always requires a formal plan. Family, friends that invest companies usually don’t need a business plan in certain situations. When a business is first starting out it will have to keep referring back to the initial business plan, because they will have little experience in what they are doing. It is usually updated on a regular basic to keep on top of it. Asma has decided not to raise money, a business plan will help her follow what she has do next this will map out the future.by noting her thoughts, it will also help her comprehensive strategy on how she will deal with various scenarios.
Asma is setting up a new business plan because she is new to planning out a business, this will allow her too really think through her work and business strategy. Her plan should involve questions on validity of her nursery ideas, she will have to consider her target market and who she is focusing on she could make a difference if her business will be a success or an unsuccessful business, who the business will be competing against.it is incredibly helpful toward her setting up her nursery as it will help her to relate back to what she has done and what is still needing to be do. In this specific market there are a large number of competitors that she will have to look in to.
An important part of the business plan is the finance; Asma’s business plan will have a large section of fancies issue on it and problems consisting of money. This part of the business plan with have a great deal of things that relate to cost set up of the business, cash flow will be on the...

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