Purpose of a Business Plan

Business Plan

A Business Plan is a document in which a business opportunity, or a business already under way, is identified, described and analyzed, examining its technical, economic and financial feasibility. The Plan develops all of the procedures and strategies necessary in order to convert the business opportunity into an actual business project.

Multiple Choice

What is a Business Plan?

• It is an indispensable tool in order to start up a business project, independently of the size of the project and/or of the amount of business experience of the entrepreneur.

• It nevers provides answers to simple questions about a business.

• A document in which provides the business owners personal finances.

The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility

What is the purpose of a Business Plan?

Multiple Choice

The purpose of a Business Plan is to _, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility

• identify

• sell

• buy

• inquire

Why Prepare a Business Plan

• If forces you to analyze whether the business project will work or not.

• It forces you to make strategic reflection on the business.

• It will help to manage the business

• It serves as a business card introducing the company.

Open Ended

Give 2 reasons to prepare a business plan