Theme 2:The business plan

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9 Terms

1

Executive Summary

A concise overview of the business purpose and opportunity.

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2

Aims and Objectives

Specific, measurable, achievable, realistic, and time-related targets to measure success.

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3

Market Research

Investigation into the target market, competitors, and overall market.

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4

Financial Forecasts

Predictions on costs, revenue, profit, and cash flow.

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5

Sources of Finance

Plan for financing the business and repayment of borrowings.

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6

Premises and Equipment

Location rationale, financing, and necessary equipment.

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7

Personnel

Organizational chart detailing responsibilities, skills, and qualifications of staff.

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8

Buying and Production

Information on product production and supplier details.

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9

Risk and Planning

Detailed planning reduces risks associated with unforeseen problems and poor decision-making, increasing the likelihood of success.

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