How many micro, small and medium enterprises have you seen in our society opening their doors affluently, then closing down shortly after? Many small businesses today are being established without a proper road map; an essential tool in identifying potential problems and opportunities. This road map, also known as a business bible, is called a Business Plan.

Why Is This Important?

Despite the time and patience necessary for preparing an effective and efficient business plan, one would certainly agree that it is a worthwhile process. As irrelevant as it seems to the ordinary man, a business plan points out new product areas, as well as potential customers. Also, it identifies the needs and wants of your customers, and aids in designing products to satisfy those needs. Your road map will identify competitors and analyze the competitive advantage of your product. Moreover, this plan will allow you to identify your strengths, your weaknesses, the opportunities, as well as potential threats.

A thorough business plan increases your chance of obtaining financing and will assist you in managing your cash flow, which is critical to keeping a business up and running. When you need access to funds, a complete business plan will certainly provide potential investors with answers to the what, where, who, and how of your business venture. It will also show how you have organized your resources.

If you need guidance in preparing a business plan feel free to contact us at Beltraide. Call us at 822-3737/0175, or email us at beltraide@belizeinvest.org.bz. Additionally, find us on face book at facebook.com/Beltraide, and follow our blog at www.belizeinvest.net. Remember the information you need to build our roadmap to success is here. Contact us today!!!

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