Planning is the first and the most crucial step for starting a business. Business Planning lays down step-by-step procedure by which would function. The various functional requirements of business-marketing, finance, human resource and production, provide information to all the concerned people like employees, venture capitalists, etc. and it also draws a read map to help the entrepreneur run the business successfully.
A valuable source of information about your business that may be required by third parties ; Improved use of your company personal resulting from participation in the business planning process ; Increased employee motivation ; Increased profits and sustained growth.
Everything on earth is tending to become compact. Gone are those days when a sea beach was described in a thousand words. Today, a similar description is possible with a powerful visual and a string of strong adjectives in only a few words.
Financial plan: Financial plan indicates the financial requirements of the proposed business enterprise such as: Projected cash flows ; Projected income statement ; Projected break-even point ; Projected ratios ; Projected balance sheet ; Project report preparation.
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