Chapter 4- Business plan

Question 0

Give the benefit of a business plan

Answer 0

• It is useful in helping entrepreneurs clarify their objectives
• It enables owner to know precisely what needs to be done in order to meet their business objective

Question 1

What is the purpose of a business plan?

Answer 1

A business plan is a report describing the marketing strategy, operational issues an even financial implications of a business start-up

Question 2

What are the contents of a business plan?

Answer 2

• Detail
• Objectives of the firm
• SWOT Analysis
• Marketing Plan
• Production Plan

Question 3

Name sources of information and guidance

Answer 3

• Accountant and Bank Manager
• Business Link
• Local Agencies

Question 4

What is Business Link?

Answer 4

Business Link is a government-funded service that provide the information, advice and support needed to start, maintain and grow a business.

Question 5

What is Prince Trust?

Answer 5

Prince trust offers both help and, often, funding entrepreneurs aged 18-30

Question 6

What are individual advisers?

Answer 6

Individual advisers, specialising in small businesses, can provide guidance and support.