Developing The Right Business Plan
Plan your business for success with a well thought out Business Plan. Your Business Plan acts as the road map for your business. It should give clear directions about the nature of your business operations, its purpose, goals and objectives and should document the path to follow in achieving them. Most businesses, somewhere in the life of its operation, will need to establish a relationship with a lending institution. This makes having a viable Business Plan even more critical as nearly all financial institutions require one before business loans are approved for disbursements.
A typical Business Plan has the following elements:
- Executive Summary
- Mission Statement
- Industry Analysis and Trends
- Target Market
- Business Strategy
- Marketing Strategy
- Description of Management Team
- Projected Financial Statements
We recommend that you get assistance from a trained professional to develop a comprehensive Business Plan that will help to safeguard the future of your business. For a list of trained professionals in this area, you may consult EXIM Bank’s Directory of Business Consultants.
The Small Business Association of Jamaica also offers a business plan template. For further information please contact them directly.
Small Business Association of Jamaica (SBAJ)
2 Trafalgar Road, Kingston 5
Tel: (876) 978-0168 or (876) 978-9191
For the budget conscious, there are also several online sites that provide affordable or even free business plan templates that may also prove helpful when writing your own business plan. For your convenience a few of those sites are listed below: