Simple Business PlanSection 11 Objective 9

Use accounting knowledge and skills to prepare a simple business plan for a small project

Simple Business Plan

Simple Business Plan

• Business Plan:• A business plan is a comprehensive written

description of the nature and elements of a proposed business

• As a roadmap, the plan show it is going to achieve its goal for the new proposed business

• The plan contains information of the following areas of the proposed business– Marketing– Financing– Operations.

Simple Business Plan

• Business Plan:• The business plan forces entrepreneurs and

other business owners to think about all the logistics for the start and operation of their business such as– Whether the idea is practical and– Is the business profitable

• The plan is also essential to lenders for entrepreneurs who are seeking finance from banks or other lending institutions.

• Lenders insist on seeing them as they show how their money will be used in the business

Simple Business Plan

• Lenders insist on seeing them as they show how their money will be used in the business.

• The main sections of the business plan is as follows:– Executive summary– Company background– Operations plan– Marketing plan– Financial plans– Marketing analysis

Simple Business Plan

• Look at the videos and gather information on the knowledge and skills needed for preparing a simple business plan

• https://www.youtube.com/watch?v=Fqch5OrUPvA

• https://www.youtube.com/watch?v=PDWvcsTloJo