For Online E-newspaper
Nairobi News : November 27th 2013
16 Wednesday, Nov 27 - Thursday, Nov 28, 2013 nairobinews.co.ke Attracting start-up capital H ere is a guide on essential information to include in a business plan. John Njiru How to Business plans. Potential investors need to know how their money will be used. To woo them, you need a good plan, and here is how to make one Business details address, business description and overview. It gives a high-level overview of T your business. The financier will want to know the ownership structure and financial contribution towards the business. The age and stage of your business life cycle This will enable the bank to un- derstand the growth prospects and potential of your business, as well as the problems or opportunities that your business will face at each stage in its life cycle. his section contains critical business information such as contact details and the business Business operations Briefly explain the concept or what your business is about, perhaps the need that your business will satisfy, or the gap in the market that it will fill. Business environment - sales and customers Write a list of your current and prospective customers. Also mention individuals or groups that purchase significant portions of your product or service. Business environment - debtors The purpose of this section is to ascertain the amount and details of the credit terms that are offered to your customers. Business environment - suppliers and creditors This section shows the business’ key suppliers and explains the relationship that you have with them. Having a business plan helps you to set goals. File, NairobiNews MoneySpinner Have a plan • A business plan is a detailed overview of the current position of a business, where it wants to go, and how it plans to achieve its goals. elps the owner to think about like strategy and map out for the future. It helps to e business i.e, help buyers rstand what you have, what worth and why they want it. u can also use the plan to set Business environment - ompetitors Briefly explain who your key competitors are. Include details such as their names, location and distance from your business. Financial review For businesses that have not started operating, it is important to be realistic when compiling pro forma financial statements. A simple document stating the personal assets and liabilities of the key people who own the siness should be attached. ource and application of funding he purpose of this section or banks to understand the or your application. Any enur applying for a loan opens o risk. That is why security is or the loan.
November 25th 2013
December 2nd 2013