Is a Business Plan really required?

Business Plans
2017

Importance of having a well-documented business plan is crucial for the successful understanding and implementation of a new business venture in any country.

3 ways in which a business plan can help you?

a. It helps in understanding the capital requirement for the business for the next one year, 3 years, 5 years.

b. It helps in assessing the working capital requirements for your business considering the present position and the funds required to scale up your operations over a period of time.

c. It helps understand the market conditions, resource requirements and plan the business accordingly, based on assumptions prevailing at that point in time and also forecasting the future projections.

A business plan serves as a business referral document, where the promoters can on a regular basis check their performance vis a vis projected on a month on month basis. It allows the promoter to take up timely remedial actions should there be any deviations from the set objectives.

It also helps the promoters to evaluate their business on an ongoing basis, thereby enabling them to be in perfect control of their business progress.

Whether you are a first-time entrepreneur, an SME with existing business or are planning to diversify, a Business Plan is the foundation and road map for your success.

Centurion Consulting L.L.C., have a highly-qualified team of financial, commercial and business analysts who have diversified, global experience across varied industries and are geared up to undertake a detailed business study, develop business plans and implement solutions.

Author: Centurion Consulting

Additional Info :

- Renuka G., Principal Consultant, Centurion Consulting L.L.C., Dubai. Centurion Consulting is a business consulting firm that can assist entrepreneurs and SME in Market Entry strategy, Regulatory compliance, Company Structure, Business Plan and company setup.