Key Elements of a Business Plan
 Concept – outline of the business including USP
 Objectives – 2 to 3 years
 Finance – sources internal/external
 The market – 4P’s including competitor analysis
 Forecasts – cashflow and profit/loss
 Resources – required for the business to be fully operational
 Purpose of the business plan
 Limitations of the business plan
Purpose of a business plan
 Planning tool – monitor, review, evaluate
 Raise finance – potential investors, bank loans
Limitations of a business plan
 Uncertainty in the external environment
 Lack of experience of the entrepreneur when planning the business plan
Create and present a business plan for a new
product or service detailing all of the key
elements