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CH 21 Getting Started in Business (Part 2) - Coggle Diagram
CH 21 Getting Started in Business (Part 2)
Business Plan
Reasons for Preparing a Business Plan
To obtain Finance
To measure performance
To identify problems
To formulate strategies
Elements of a Business Plan
Business details
Objectives
Product details
Market details
Production details
Financial details
Business Risks
Unexpected events
Changes in tastes/fashion
Competition
The Economy
Challenges for Business Start-ups
Ownership Structure
Finance
Production Methods
Staff Recruitment
Competition
Reasons for Business Failure
Poor management
Insufficient Capital
Location
Business Plan
Expanding too fast
Terms
Companies Registration Office (CRO)
Business Name
Deed of Partnership/partnership agreement
Certificate of Incorporation
Footloose business
Production run
Business Plan