About Business
Plans
You will need to write up a business plan at the early stage of
your research before you start your business. The business plan
document describes the vision and the objectives of your business
as well as the strategies that are put in place to achieve those
objectives. It allows you to apply all the information you have
generated from your research and turn that into the basis for many
of the decisions that need to be made.
Many small businesses do not bother with a business plan because
they feel that they are too small. This is however, a serious
mistake because the plan acts as the map that guides you on your
way to the end result. It forces you to examine your goals as well
as what your business is all about. It sets out clearly the
objectives of the business and how you believe those objectives are
going to be satisfied.
It clearly outlines the amount of capital that you are going to
need for the start up for the business as well as the financing of
the early stages of the business before the turnover and
profitability kicks in. It is in fact your business owner manua
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