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Business Development Services (BDS) Forum Business Planning |
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The business plan is the most essential document involved when starting, building and managing a successful business and it is an effective tool for raising the necessary capital as well as capturing the interest of investors. The business plan is the document that clearly and concisely defines the goals and objectives of a business, outlining the methods for achieving them. The business plan is also an excellent communication instrument for investors and suppliers interested in understanding the operations and goals of the business. Note! It is important to adapt the business plan to the size and capacity of each enterprise: Business plans for start-ups, are based on a business idea and initial market estimation and use mainly estimations and financial projections and not existing enterprise data. Micro enterprises normally do not need a business plan. Even most of the Ghanaian banks apply other tools for loan approval to micro enterprises like personal interviews, site visits and linkage of savings and credit. But sometimes it may be helpfull for financing and business management. Business plans for micro enterprise must be adapted to the very limited accounting and management capacity of micro enterprises. Small enterprises have also a limited capacity in cost calculation and financial projection but have a better financial and accounting capacity as micro enterprises. The "high end" business plan is the one for medium and large enterprises with a professional capacity of accounting, management and financial projection. But this business plan cannot be applied to micro and small enterprises.
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BDS-Forum
BDS-Forum
EBDSN, Addis 2004
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