The business plan is a document which determinates the viability of a business project. It develops aspects such as technical viability of the product/service, necessities it meets, the potential market or the human or economic resources which are needed to start up.
This step is done with the help and advice of a mentor, who meets with the entrepreneurs regularly.
The frequency of these meetings depends on the necessities and responsibilities of the future entrepreneurs: they set the pace.
All the conclusions obtained in those meetings will be reflected in a report, the business plan, where we will find:
- Project presentation: promoters’ curriculum, project definition, short and medium term objectives
- Description of the activity: technical and innovative features of the product, necessities which are filled, corporative image and merchandising, location, suppliers, costs, production capacity…
- Market features: geographic range, potential clients, competition, communication, sale forecast.
- Technical and material resources: office, equipment, transport…
- Human and management resources: organization chart, jobs, external advice.
- Legal aspects: legal form (Plc, Ltd… ), administrative procedure, hygienic and security measures.
- Economic and financial aspects: economic resources, grants, credits, investment plan, profit and loss account, balances. Access to Business Angels and/or risk capital