A business ____ is a document which outlines the ____ of a business and how it intends to achieve these objectives. These are used mainly when ____ in business. You need to find out if it is ____ viable (wise) to actually set the business up in the first place. You will need to work out all your ____ and carry out ____ on potential customers to find out if sales income will be enough to cover these costs and earn ____ A business plan is likely to be used to convince investors, for example, a ____ to lend the business cash in order to get it started. Banks and other ____ are more likely to lend to ____ who have been thorough in their planning and research.To be convincing, it must therefore contain essential information: ⮚ General details – the ____ of the business, proposed ____ and what it is going to ____; ⮚ The market – who are the potential ____? ⮚ Human resources – who will be ____ and work for the business? ⮚ Finance – what are the expected costs of running the business, what ____ is expected and what is the expected profit? Also where is the start-up cash coming from, ie, all from the owner/s or partially from a ____?

S3 BM The Business Plan

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