ENTREP

A business plan is a

Planning is

Business planning should be

Business planning involves

PRINCIPLES OF PLANNING (for micro and small business application)

Planning must be based on available resources:

human

- financial

- organizational

o If these are not enough it is impossible to implement successfully the project.

• Realistic

• plain

• Environment friendly

• Simple

The objectives of the project must be fit to the needs of the people in the community.

o Such need can be known to:

-Interview

-Observations

-Questionnaire

• Planning must be realistic

• Planning must start with simple project

• ü Planning must be based on felt needs

• Planning must be flexible

Planning should be adjusted to such changes to be more effective and relevant

o Likewise planning must be responsive to the trends in consumer tastes and preferences.

• consumable

• flexible

• time friendly

• reliable

Planning must start with _______

o Because of the economic challenges the most appropriate project is micro business

o Which only requires:

-Simple management - simple materials and equipment are requires

-Low budget requirements - minimal staff requirements

-Minimal supervision

• simple management

• availability

• flexibilty

• simple project

Stages of Business Planning

At the start of the business the owner of the business is busy looking for:

§ Funds

§ Customers

§ Materials (raw, semi-finished and finished)

§ Equipment

Eventually the owner/manager realizes the need to develop and use of budgeting system.