Although planning a business is a matter of the entrepreneur’s determination, a formal business plan will guide and help you in many aspects. As businessman, you need to sketch a plan. This is the owner’s vision of the intended business. An aspiring businessman should prepare, presenter discuss business plan as it helps both financial institutions and the prospective business owner to project the viability of the business.
Business Plan is a financial projection of unintended venture. You should have the prerequisite knowledge of your target market. The feasibility studies and market projections before you venture into any business are mandatory. No matter the size of your business be it sole trading, Partnerships or Public Limited Company, etc, you need to plan for your potential share in that market, existing pricing, and competitive strategy.
You will need to understand the strengths, weaknesses, opportunities and threats (SWOT),of the business in relating to your business environment and the detailed financial strength of your available resources. Vital component of the Business Plan is how you manage capital structure for long-term business finance and working capital for day to day working supplies.
Capital structure is the composition of capital in business. For sole trader and partnership business, capital structure is their capacity of investment or borrowings. But for public limited companies is the collection of small amount of shares capital from public, borrowings from banks, profit plough-back.
We offer a consultancy service for finalising a business plan!