USERS OF A BUSINESS PLAN
HERE ARE USERS OF A BUSINESS PLAN • Internal users 1. The entrepreneur and management It enables the entrepreneur to be aware of the variables that can affect the success or failure of his/her business. 2. Employees Business plan shows each employee’s duties and responsibilities which help them to work towards accomplishment of set goals/targets. Therefore workers use it to know where the business is going and their role in it. • External users 1. Financiers These include banks, individuals, investors, e.t.c that require the business plan to enable them understand the business itself, the type of products/services it is planning to produce, the nature of the market and qualifications of entrepreneur and management team (staff). 2. Suppliers With it, suppliers can extend trade credit which is a source of funds to the business. A well-presented business plan can be helpful in gaining the supplier’s trust and securing favourable credit terms. 3. Government Government departments...