The business plan is the most important guide to starting, building and managing a successful business and is an effective tool for raising the necessary capital and capturing the interest of investors. The business plan is the document that clearly and concisely defines the goals and objectives of a business, and outlines the methods for achieving them. The business plan is also an excellent communication instrument for investors and suppliers interested in understanding the operations and goals of the business.
Many businesses fail due to a lack of planning and preparation.
The more complete and accurate the information, the more promptly institutions, banks, investors, and suppliers will be able to respond to requests for assistance. Generally, the sponsors of the proposed business would be responsible for preparing the business plan. The business plan describes what the business will do, how and where it will be done, and how the business will be capitalized and managed. Identify and describe the land and civil works, buildings, equipment, staff and other inputs necessary to generate the products and services and set out how to procure the facilities and equipment. Describe how the products and services will be produced and made available to the customer and how soon you plan to achieve the estimated level of production.