Business Plans for Small Business
A business plan is a combination of marketing (product details and how it will be promoted) together with financial projections.
The plan can be utilized for internal goal setting, business expansion or obtaining financing. Think of it as a roadmap that guides you to success..
Benefits of a business plan
It sets out a solid strategy.
It would have a detailed marketing plan to attain the objectives to start a business, grow a business or even sell a business.
A professionally prepared business plan will increase your opportunities for investment or outside funding.
The business plan includes detailed financial projections of income, expenses, and cash flow—all needed for effectively managing your business or attracting investors.
The business plan can include an exit strategy. This would set out the planning in the event of retirement or succession to family members.