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Chapter 20
Planning the Business
Term | Definition |
---|---|
Section 1 The Business | The name, address, the type of business and the main objective. |
Section 2 Key Personnel | Details about the people who set up the business. |
Section 3 Product/Service and the Marketplace | Details about the product or service,firms customers, firms main competitors and how the firm advertises and sells their product/service. |
Section 4 Fixed Assets of the Business | Details about the premises used by the business and details about all other fixed assets owned by the firm. Eg(equipment and Motor Vehicles. |
Section 5 Finance | Details about any existing loans that the business has, the amount of additional finance required and how the finance is to be repaid. |
Fixed Costs | These are costs that must be paid by the fiem each month. |
Variable Costs | Variable costs are costs that change depending on how much business the firm is doing. |
Cash Flow Forcast | This is a plan showing all the expected cash receipts and cash payments in a firm over a period of time. |