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Business Plan Writing

A business plan is a written document that describes your company, its objectives and strategies, your target market, and the financial forecast of your business. It is important to have a business plan because it will help you set realistic goals, in obtaining external funding, measure your results, clarify your business needs and establish reasonable financial forecasts. Preparing a business plan will also help ensure the proper functioning of your new business and give it every chance of succeeding.

Obtaining financial assistance to launch your new business will be directly related to the quality of your business plan. To be considered a viable candidate to receive funds from a financial institution or investors, you must demonstrate that you understand all aspects of your business and its ability to generate profits.

A business plan is more than a simple document to show lenders and investors. It is also necessary to help you plan the growth and progress of your business. The success of your business may depend on your plans for the future.

Here are examples of questions you can ask yourself when writing your business plan:

 

  • How will I make a profit?
  • How will I continue to run my business in times of sluggish sales and falling profits?
  • Who are my competitors and how will we coexist?
  • What is my target market?

 

 

 

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