A business plan is a document that describes your business, the market it operates in, its objectives and the strategies you have in place to achieve these objectives.

A written business plan:

• forces you to think realistically, objectively, and unemotionally about your business
• leads to questioning of past and future assumptions
• makes it easier to communicate planning objectives and strategies to bankers, partners, employees, financial backers and so on
• helps to ensure that all aspects of the plan are clear and integrated
• serves as a reference point when determining the effects of alternative courses of action on business operations
• allows you to identify any areas where you may need external assistance
• allows you to plan the growth of your business and associated capital requirements.

Need help developing your business plan? Email info@smeadvisersng.com or 07031517266