Introduction/Definition of Concepts

A business is an activity or entity, normally engaged in the provision of products and or services, for commercial gain, extending to non-commercial organizations that  may  or  may  not  be  profit  oriented.  This  is  irrespective  of  the  size  and autonomy. With this definition, non-governmental organizations, private, public service sector like schools and hospitals are regarded as 'businesses’. Meanwhile, a plan is a statement of calculated intention to organize effort and resource to achieve an outcome. This may or may not be in written form, but essentially comprising   explanations,   justifications   and   relevant   numerical   and   financial statistical data.

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  • Theory and Practice

    When writing a business plan from the scratch, from a template or from the guide of an experienced business plan consultant, there are five required steps to create a new business plan.

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  • Typical Structure for a Business Plan

    From the foregoing, one will agree that business plans are decision-making tools. There is no fixed content for a business plan. Rather the content and format of the business plan is determined by the goals and audience of that enterprise.

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  • Reasons for a Business Plan

    Planning about your business is a necessary process to undertake before, during and after start up.

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Starting a Small Business objectives

·    Explain the concept of business planning process
·    Understand contents and reasons for a business plan
·    List some factors that motivate people to begin new businesses.
·    Search for and Identify business opportunities
·    Understand the required legal formalities for a business start up
·    Prepare a feasibility  analysis report
·    State the relationship between a feasibility analysis and a business plan
·    List formal and informal sources of capital for new ventures.
·    Know how to and be interested in starting a small business of their own.