8 COMPONENTS OF A BUSINESS PLAN
In the business plan preparation, the entrepreneur is expected to have broken down all the contents of the plan under the following sub headings; 1. General description of the business. 2. Statement of mission, goals and objectives. 3. The Marketing plan 4. The Production plan 5. The Financial plan 6. The Organisational plan (Administrative/Management plan) 7. The Action plan General description of the business This involves giving summarized information about the business. Therefore general description of the business involves establishing the name, address and location of the business, the type of business being planned, the needs of the market it seeks to fulfill, a summary of how the intended business will be different from other businesses (uniqueness) as well as making an analysis of the strengths, weaknesses, opportunities and threats (SWOT) that the business is likely to face. Statement of mission, goals and objectives These are brief statements indicating why the busines...