Importance of a Business Plan

The idea of Business Plan is to provide information about your business.  A business plan can be thought of as a written description of a business’ future. It performs the function of presenting the business idea to potential investors or funding agencies. The contents of the business plan should, firstly, provide research the industry, business structure, the product or service offering and the steps that will be taken to ensure that the business is successful. Secondly, it should carefully consider potential customers: who and where they are. Lastly, the financials of the business venture should detailed and projected, accordingly. A free Business Plan template has been provided to show which key information that would need to be included and why.

Business Plan Template (Standard Bank BizConnect Link):