Business plans contribute to the future success of a business in several ways.
A business plan usually includes a description of your business and the industry in which it will function including suppliers, customers and competitors the products and services you will provide, your price schedules,and your sales, marketing and production plans. As well, you will need to outline the opportunities and threats facing your business, the resources you will require, your expansion plans, and current and projected financial statements. Planning for Expansion Planning is critical not only in the early stages of a business, but also when your business starts to grow when it necessary to help you avoid some of the pitfalls which often accompany expansion. One plan you must consider is human resource planning the hiring and management of employees. To begin with, you need to consider how you will find employees with the skills and training needed to make your business a success.