Day: February 7, 2022

Try to find out what is expected to happen within the industry in the future. Are the sales, profits and competitors expected to increase, decrease or stabilize? Show figures. What new product or new production methods are expected? Will the Read More …

This is an association of persons, called share holders who contribute capital to carry out business together with a view of making profit. A company is however a legal entity separate from the shareholders. Formation of a limited liability company Read More …

This is a business unit owned by two or more people called partners. Characteristics Formed by two to twenty members (partners) except for a professional partnership that may have a maximum of 50 members. Managed by members who may share Read More …

Sole proprietorship: This is a type of business owned and managed by one person called a sole proprietor. Capital for a sole proprietorship can be raised from: Borrowing from friends, relatives or financial institutions. Inheritance. Donations Credit buying or hire Read More …

Businesses can be at difference stages e.g. Start ups: a business start-up means creating a new business, which stands alone, and is not tied to other organizations, except in the normal course of trading. It does not mean the idea Read More …

Executive Summary Business description Marketing plan Management and operational plan Financial plan 1. The Executive Summary is a brief of the business venture. It summarizes the business description, marketing, organizational, operational and financial plans of proposed or for an existing Read More …

1. Encourages potential entrepreneurs to establish written goals and objectives for their proposed businesses. 2. Enables potential entrepreneurs to establish written goals and objectives for their proposed businesses. 3. Assists is identifying the potential customers, marketing opportunities, pricing strategy, promotional Read More …

One of the reasons why you may be compelled to prepare a business plan is when you want to get a loan either from a bank, a non-bank financial institution or any other lending institution. To you, your business is Read More …

A business plan is useful in the following ways: (1) It is a financial tool A good business plan should provide more information than merely what is required to secure a loan from financial institution. A separate loan package will Read More …