Description
A business plan is an essential business tool for both the start-up and the established business. See Form 9.3 below for a Business Plan for an Established Business. A business plan can have a number of different functions and should be focused accordingly.?For the majority of start-up businesses, a business plan is used to approach potential investors, such as venture capitalists or affluent individuals who are interested in investing in projects. The business plan should focus on the calibre of the entrepreneurs and the unique quality of the idea, with reference to the funds required. It should be an easy-to-read and exciting document, usually a maximum of 50 pages in length, including all appendices. The headings can be shuffled as appropriate, with additional headings used if required. All elements included in the business plan should be relevant to your unique business. The Executive Summary must contain the most important information, as this is generally the selling point in the business plan. Run-on-text can be quite cumbersome,so it is advisable to make use of charts and tables where possible, as these facilitate understanding and quick interpretation. A business plan should be neat, simple and realistic, conveying a sense of professionalism.