STEPS INVOLVED IN PREPARING A BUSINESS PLAN

 1. Selecting a business opportunity or type of business to engage in, for instance, trading business, service provision business, manufacturing, agro business, e.t.c.

2. Conducting market survey for a selected type of business. This involves gathering information from respondents by communicating with them.

3. Collecting all the relevant data concerning the different aspects of the business and establish the costs of different items like machinery and equipment, raw materials, transport, e.t.c.

4. Drafting the business plan.

5. Discussing the drafted business plan with technical/knowledgeable or experienced people in the similar business.

6. Making a final business plan.

7. Finalizing the business plan process by preparing an action plan for the implementation of the planned activities.

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