Business Plan
WE now live in an Internet age. Nowadays, people want quick, easy and convenient solutions to their problems. Nobody has the time anymore to build anything from scratch. That’s just the way our world works.
* The first way is to use a template or sample business plan. By using a template of a business plan that looks like something you want, you’ll end up saving a lot of time and energy compared to starting from scratch. If you don’t like reinventing the wheel, this option is for you.
*The second way is to use business plan software. After years of writing business plans the hard way, I finally found that software makes business plans so easy to write. The right business plan software can be a huge blessing for those of us who don’t have the creative skills to design attractive plans, or the skills to prepare financial reports.
* The third option is to hire a business plan writer. This is the easiest option of the three. For those who can afford it, this option will save you a lot of time and effort. All you have to do is give the writer an idea of the kind of business you’re trying to create and all the information he/she needs to develop a business plan for you.
If you’re too busy, don’t have time to write a business plan by yourself, or just want a professional touch, this option would definitely work best for you. – Adapted from www.smallstarter.com
Questions 1.1
A business plan is a valuable instrument to guide the entrepreneur. You are required to develop a business of your choice and draw a comprehensive strategic business plan for your business. (15)
1.2 Define a business plan and explain any five items that a business plan aimed at obtaining a loan from a financial institution should focus on. (15)
1.3 New products can be easily copied and entrepreneurs have to safeguard against that, advise entrepreneurs about any five legal forms of protection that can use to protect any newly invented initiatives. (10)
1.4 Concisely deliberate on the challenges facing entrepreneurs and SMEs in Namibia. (10)