1.4.4 Business plans
What students need to learn:
The role and importance of a business plan:
The purpose of planning business activity:
The role and importance of a business plan:
- to identify: the business idea; business aims and objectives; target market (market research); forecast revenue, cost and profit; cash-flow forecast; sources of finance; location; marketing mix.
The purpose of planning business activity:
- the role and importance of a business plan in minimising risk and obtaining finance.
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