Business planning

• Business plans are normally drawn up at the start of each year.
• A business plan is used as a focus for the business which can also be used to set objectives.
• The business plan is used to show people that are lending the business money, so they have an indication of the likely success of the business.
• It can be used to monitor the businesses progress.

A good business plan includes the following:

• Details of company,
• Description of product,
• Customer info,
• Organisation and location,
• How much money the business has,
• Detailed analysis of cash available - cash flow forecasts etc.