Business Planning

R 500

Business plans are utilised for a number of different reasons. Firstly, a business plan can be drawn up to assess the viability of your business idea. You will find a business plan helpful in this sense as you will need to assess the market for your product or service, as well as your competitors and other important information. Assessing the viability of your ideas is covered in our course on viability of business opportunities and ideas. This course will concentrate on helping you to formulate a business plan.



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Secondly, a business plan can also be drawn up if the business is applying for funding, especially at banks. Here, the bank manager will want to discuss your business plan in-depth in order to assess the viability of your business being successful. Business plans can also be formulated as a tool for moving the business into the future. If the business is already running, and certain strategies, such as marketing and advertising strategies have changed, these need to be communicated in the business plan.

NOTE: Should the primary purpose of the Business Plan be for the raising of finance, each financial institution has a guideline as to their minimum requirements which need to be included in the Business Plan. Please consult each targeted financial institution before commencing the development of your Business Plan to ensure that you meet their minimum requirements.