Business Link Business Plan

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The first year projections should be monthly, while the remaining years can be an annual accounting.

The type of financial documents included in this section include income statements, a list of assets and a plan for purchasing major assets.

The summary outlines the intended business and how it plans to become a major player in its industry.

Although it is the first section in the business plan, it is often written last so it incorporates everything included in the plan.

The section should also include the principal owner's information and other specific details about the business, such as how many employees the business intends to have, products and services offered, and a brief overview of the industry as a whole.

Also, as mentioned on the Entrepreneur website, is it wise to describe the current industry outlook, along with the future industry outlook.Marketing and sales strategies are outlined in this section.Detail your business' target market and how the business plans to reach them.For example, if the business will have an operations manager, sales manager, lead salesperson and a finance director, these people should be included in the plan as should their experience in the position.As an addendum, resumes of the management group should be included with the business plan.It is also important to note that for any business that plans to seek outside financing, a business plan is a required part of a loan application.Business plans can vary depending on the industry, but certain sections are necessary for any business plan.You can also research industry and competitive insights, and access online learning resources that cover everything you need to create or update your business plan.Information and views are general in nature for your consideration and are not legal, tax, or investment advice.This should include any proposed marketing and advertising campaigns, and the media the business plans to utilize -- radio, television, the Internet or newspapers -- to reach its target audience. Francis is a freelance writer with over 20 years experience, and a small business consultant and jewelry designer.This is also the section where the business identifies its competition in the market, describes the competition's strengths and weaknesses, and explains the plan to set itself apart from the competition. She holds a Bachelor of Arts in English and business administration and a Master of Arts in Adult Education.


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