The Small Business Forum
The Business Plan (contd)
- The business plan particularly serves as a communication tool to financiers and investors. Even where you do not need financial support, the plan helps to better understand the business goals and how to achieve them.
- There is no one standard business plan for all businesses. The plans vary according to the factors considered critical to the business’s success. A business plan may therefore give different emphasis to management, financing or marketing or other factors considered important. For a very small enterprise, the plan may combine aspects of both feasibility and business plan, estimating projected performance, and outlining how the business will be carried out.
- The business plan is also not a one-time document. The business environment is always changing. New customer needs are identified, new businesses come into the market as others exit, and new technologies are introduced. The business focus, similarly, changes as some goals are accomplished and new ones set.
Comments, Questions and Suggestions welcome.
drkibuka@thesmallbusinessforum.co.ke
+254-729524219
———————————————————–