# Business planning

Source: https://projectalevel.co.uk/business_studies/finance/business_planning

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- 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.