Entrepreneurship: Developing A Business Plan

These flashcards cover key concepts and details from the module on developing a business plan in entrepreneurship.

What is the first part a business plan should be accomplished according to the module?

Executive Summary

What does the acronym DTI stand for?

Department of Trade and Industry

According to the module, what is the primary purpose of a business plan?

To serve as a blueprint for the business and guide the entrepreneur throughout the process.

Which financial statement shows the flow of cash in and out of a business?

Cash Flow Statement

In the context of the business plan, what are 'Cost of Goods Sold'?

Materials cost needed in production of goods like fabric and labor.

What does the financial plan section typically evaluate?

It evaluates start-up costs, financial projections, and budget.

What critical aspect does the 'Market Plan' part of the business plan include?

Demand and supply analysis vis-à-vis competitors.

What type of business ownership does the module suggest for 'Via's Fashionable Face Mask'?

Sole Proprietorship

What are the two measures of financial health included in a financial plan?

Net Income and Total Cash Inflows.

In the module, how is 'Net Capital' defined?

Capital Beginning + Net Profit - Drawings.