The Business Plan
One of the most important steps in establishing any new business is the construction of a business plan. It can help the owner/manager crystallise and focus his ideas. It can help him set objectives and give him a yardstick against which to monitor performance. Perhaps of more immediate importance, it can also act as a vehicle to attract any external finance needed by the business. It can convince investors that the owner/manager has identified high growth opportunities, and that he has the entrepreneurial flair and managerial talent to exploit that opportunity effectively, and that he has a rational, coherent and believable programme for doing so.
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