Online Learning College

Business Plans

Business Plan

In this post

Business plans are used to outline the industry in which a business is working in as well as the economic structure of a company to give an idea of the financial prospects of a business. They are used primarily to organise the routes to market that a company will take and give projections on earnings and target dates for when the company expects to have a certain income.

Writing a strong business plan is important for any business, whether large or small, and is the perfect way to map out your route to success. Not only will the plan contain your aims and plans to attract new customers but it can also act as a strong tool for financial projections and help you to set out goals for your company. Throughout the units that we have already covered on this course we have seen a lot of aspects that could be included in a business plan, and including as much information as possible is key.

A lot of entrepreneurs fail to produce a clear business plan when they set up a new company and this can be a big issue further down the line. By not outlining your company and its operations you may affect the business in a negative way and be unable to keep track on the progress and route the business is taking. If you are seeking finance to launch your company it is more than likely that you will need to create a business plan to secure a loan, but this should not be thrown away once you have started the business. Your plan can be updated and adapted at any time and you must try to keep things relevant and up to date so you know the long-term aims of your company.

Why create a business plan?

Some entrepreneurs fail to create a business plan before starting a company because they feel it is a waste of time. They know what they want to do, how they want to do it and everything that is needed has been formulated in their heads. This is a very good skill to have, but without your thoughts and projections down on paper it can be very easy for them to become misinterpreted, forgotten or skewed. Simply having things thought out in your mind is not enough to convince others or explain your strategies to those you are working with. Business plans are used to organise your approach and produce a strategy that allows you the best possible chance of success. They should include:

  • Information about your company so that you can plan the structure and objectives which you have
  • Your relationships with others and how these can be used (e.g. banks, lenders and accountants)
  • To find weaknesses in your plans and areas where you must improve
  • Areas for discussion so that you can find out other people’s opinions and include them in the planning process

Some people start a business and want everything to be done immediately. With great confidence that they can do it all alone and have no input from experts, they may not stop and think about forming a clear plan that includes facts and figures to help them along the way. Doing this can be of massive detriment to any business and you need to gather as many opinions, facts and ideas as possible from those around you.

What to avoid

A business plan should include lots of information but there are a few things that should be avoided. You should put some restrictions on the long-term (over 1 year) predictions of your finances. A long-range prediction on the amount of money you will have coming into the business can be completely meaningless because it is very hard to predict how a business will perform far into the future.

Very few business plans get the figures projected spot on, so remember to give a good indication of what you expect to earn but try to be conservative with this. By exaggerating the earning potential of the company you will not be impressing anyone and this will make it difficult for you to plan your spending. Outline clear time frames and indicate your aims during these periods. Try to show what you will be working on at any time, for example if your business will take quite a lot of setting up then the first 6 months may be devoted solely to this and you should outline this in your plans and projections. Try to correctly anticipate the money and time that will be required for processes to be completed and always factor in a margin of error. By slightly exaggerating the money that will be required when completing a stage of expansion or setting more time than is needed, you will be well prepared if some unforeseen issue crops up.

Don’t just use the business plan to explain how great your product or service is. This alone will not turn your business into a big success (although it is very important). Identifying areas to improve and how you will market your company is much more important than simply relying on the uniqueness of your product.

The purpose of a business plan

The purpose of a business plan

Business plans are used for a variety of different reasons and the importance of these should not be underestimated. Creating a plan that is precise and includes information that is relevant to the new or existing business will ensure that ideas are implemented quickly. Without a solid business plan it will be much more difficult to judge the success of the new venture and the direction of the company will be hard for everyone to see.

Minimising risk

The risks when starting a new business can be huge. Money is invested into new businesses and time will also be spent on getting a company off the ground. Without a business plan in place, owners and employees could end up wasting their time in certain areas. Using resources inefficiently and having no clear direction for a business can lead to disaster very quickly. The best way to avoid this is with a clear outline of what the business needs to work on and what resources will be needed in order to make the venture work. A business plan will be used to set goals and objectives while losing no time in areas that do not see a large enough return on the investment.

Securing finance

Many people use business plans to secure finance for a new venture. This finance can come from several different sources such as banks, investors and start-up funds. Having a business plan that shows exactly how the business will operate and where money will be made will act as a way to convince potential investors to finance the company. With clear profits to be made and a route to market mapped clearly, investing in a business will be a much more desirable prospect for a potential investor.

Formats of business plans

There are many different formats which a business plan can be created in but the main areas to cover are:

Executive summary

Company summary, products and services, market analysis, strategy and implementation, management and personnel, financial plan.

Any business plan should include an executive summary which gives an outline of the business and the vision of the owners. Here you should briefly explain the business and its activities as well as the key areas that will help the company to succeed. A mission statement can be included to explain why your company will be unique in the market and what will give you the edge over your competitors.

You should also include some information about the financial aspirations of the company here to show the economic aims over the first few years in operation. Remember, these do not need to be hugely accurate and taking a realistic look at what can be earned is essential. It is usually best to complete the executive summary of the company last as you can include information from other sections in this part of the plan to give a good overview and concise insight into the business and your plans.

The company summary will explain key aspects of the operation of the company. This includes the owners of the business as well as where the business is located. Information about all directors must be included in this area of the plan and you should summarise their roles within the organisation. If you have any other personnel that will be involved at a senior level then they should be included also. In this part of the business plan you need to outline the funds required to set up and maintain the business also. By including information about the company’s location and operations you will be able to forecast the money required to get the company started and any investment that will be needed. Try to include a spreadsheet showing where the initial funding will come from and how much is being put into the business to start with. Remember, most new businesses make a loss in their first year due to the expenses involved in starting a new company, so be realistic. Plan the initial outlays and costs carefully and make sure you know the limits to how much you can put into the company to get started.

The location of the business can also be included here and any rent that you will be required to pay can be outlined and the costs per square foot for the company premises. Then you can go on to make projections about the sales required to cover all of your fixed costs such as office and equipment rentals.

Next we move on to explaining the things which will earn your business money – the goods and services that you have to offer. In this section you must include descriptions of what you can offer your customers and the prices you will be charging. Outline what makes your goods and services special and the key aspects that will influence potential clients and convert them into paying customers. It is also a good idea to compare your pricing structure to your competitors. It may be that you offer the same products but cheaper, or with any additional features to make your products more appealing. You should explore the need for your products and services to be better than any of the competition. As a new business you may struggle to compete unless you have something that nobody else has. By bringing to the market something which is already selling well with another company that has established its brand in the marketplace, you might struggle to take a large enough section of the market to warrant starting a whole new company. If this is the case then you must compare your pricing to your biggest competitors and ensure that you are competitive.

In this section you can also include any products and services that you may offer in the future. Explain your product development processes and how you will be able to innovate and bring new products or services to the marketplace.

Next you need to carry out some market analysis to identify your potential customers . In this section of the business plan you need to include information about your ideal customers and what sort of people they will be. Think about the earnings of your potential clients, the type of lifestyles they will live and the products and services they expect from a business. This part of your plan is great for you to use figures about your market and show any growth projections for the sector in the future.

Explain market trends and analyse the need for your goods/services in this sector. Attempt to find some facts about the disposable income of your potential customers and target certain people who will be interested in what your company offers. Think about how you will be attracting your customers and the potential for growth over the first 3 years in operation. Make estimations about the number of people in the area where you will be offering your products and services to get a good idea of how many different potential clients you can attract. Having a good understanding of your target market will give you the tools to design marketing strategies and techniques to attract the maximum number of customers to your business.

Having outlined your market and explained who your products/services will attract, it is time to explain your techniques when doing this and show how you are going to market your company. Explain the key aspects of what you offer and the main selling points that should be tailored to suit the target clients that you have in mind. Products designed for the more affluent will need to be luxurious and have an exclusivity about them, whereas items that are for people with limited incomes will need to offer greater value for money. Try to understand a clear link between the market in which you will be operating, your potential clients and the main aspects of your business which you should focus on.

Ensuring that your business suits the needs of customers is essential to getting the most customers. For example, opening up a luxury spa in an area where there is high unemployment and typically lower incomes will encounter lots of issues as the potential customers (those within a 15-mile radius) will have no need for this service and may not be able to afford what you have to offer. You will need to come up with at least five ways of promoting your business that will appeal to your target market and attract clients. Remember all of the techniques and skills we discussed on marketing and try to link what you know about your potential clients to the advertising methods you will use.

Here you can also outline the potential sales forecasts and investments which you will make when promoting your goods and services. Come up with some realistic projections about the money to be spent on advertising and increasing awareness of your brand as well as any sales targets you may wish to set. Be conservative with your sales projections as it takes time for any business to get a good level of customers and building brand awareness does not happen overnight. Your sales in year 1 will normally be fairly low and you need to take this into account when projecting your income and the amount it will cost to set up your company.

The next thing to plan is the personnel involved in your business. This will include the owners and directors as well as any senior managers that are to be involved in the company. Explain the team structure and hierarchy of your new company and the number of employees you will be hiring. Knowing the team behind the company and their individual duties will let you outline the various skills that your team possesses and establish each person’s duties within the organisation.

Outlining the duties of each person and giving a brief job description is a good way for you to understand the team dynamic and responsibilities of each member. Most new companies make the mistake of hiring too soon, but with a clear plan of the business personnel that will be involved in your company you will be able to ensure each person is needed for the business to operate. Establishing a business will require you to be frugal in your approach and employing staff that are not needed can have a terrible impact on your profits and end up costing you tens of thousands of pounds a year.

Outline the wages of your employees and then come up with some totals for staffing costs that can be used when writing your executive summary.

Your financial plan will provide a clear breakdown of all the income and outgoings of the business that you expect. These will only be projected figures so will be likely to change in reality, but you should be able to predict fairly accurately using your knowledge of costs incurred and the pricing and potential customer base for your products/services.

Make projected figures for your fixed and variable costs as well as the profits you expect to earn from sales. This will then help you to create a break-even analysis for your company that will show the amount of money required to cover all of your outgoings. Remember that your first year will have fixed and variable costs as well as additional outgoings which come from setting up your company. You will also have a limited number of sales during the first 12 months as you build up your customer base, so the projected net profit for year 1 will be lower than any other year. Try to think about the most popular goods/services you offer and come up with an average sale price for your customers. This will then help you to identify the number of customers you need in your first year to break even.

Come up with some cash flow and profit and loss charts (look over our work in Unit 1.3 to help) to project how much money you can expect to see in the business each year. This will help you to come up with clear and concise predictions for how much money you will be making in your first three years.

Financial plan

Reformulating a business plan

If you do ever happen to make a slight error in judgement on your initial business plan this can always be altered and the plan changed as required. The chances of figures being completely correct in your first projections are very slim and there will be certain things that you miss or random payments to be made when setting up your business which you did not account for. This is the main reason why being conservative with your income projections and adding in a ‘safety net’ figure to your costings will help you to deal with these circumstances. Business plans should be flexible and are a working document, so chopping and changing them is fine. When doing this try to use what you already have to create a new plan for the next few years rather than just altering figures to make it look like you got the initial plan correct.

Business plans are working documents, so they should be altered and added to as time goes by to determine where your company is heading and how it will get there. Being understanding of the nature of business and the fact that you will not be able to predict certain outcomes will give you an edge and allow you to put in place certain measures to help if you ever do come up against any problems.

reformulating a business plan

Interested in business?

We offer a GCSE Business course that covers information on Business plans.

Learn more about our GCSE business course

Read another one of our posts

Building rapport with clients in counselling.

Building Rapport With Clients in Counselling

Most Common Childhood Illnesses

Most Common Childhood Illnesses

A Day in the Life of a Zookeeper

A Day in the Life of a Zookeeper

Crisis Intervention in Social Care

Crisis Intervention in Social Care

Promoting STEM Learning in Early Childhood

Promoting STEM Learning in Early Childhood

Top Five Qualities Needed to Become a Playworker

Top Five Qualities Needed to Become a Playworker

Play in Early Years – A Comprehensive Guide

Play in Early Years – A Comprehensive Guide

Tips For Landing Your First Teaching Assistant Position

Tips For Landing Your First Teaching Assistant Position

Save your cart?

GCSE Business Studies: How to Write a Business Plan

The best way to revise for gcse business studies..

A business plan is a crucial document for any entrepreneur or business owner. In this blog post, we'll take a look at some basic concepts and tips to help you get started with writing your own business plan as a GCSE business studies student.

Insights and Tips:

Purpose of a business plan: A business plan is a roadmap for the future of your business. It should clearly outline your goals and objectives, as well as the strategies and actions that will be taken to achieve them. A business plan should also include a detailed financial analysis and market analysis.

Executive summary: Start with a clear and concise executive summary that provides an overview of your business, including its mission, products or services, target market, financial projections, and competitive landscape.

Description of products or services: Include a detailed description of your products or services, including how they will meet the needs of your target market and any unique features or benefits they offer.

Market analysis: Conduct a thorough market analysis that includes information on your target audience, competitors, potential market size, and relevant trends or opportunities.

Financial analysis: Include a detailed financial analysis, including projected income and expenses, cost and revenue breakdown, sales forecast, and cash flow projection. This will provide a clear picture of your business's financial viability and help secure funding.

Action plan: Develop a clear action plan with specific, measurable, and achievable goals, along with the strategies and actions that will be taken to achieve them. This will help keep your business on track and ensure progress towards your goals.

Surprising Fact or Skill:

Did you know that having a business plan can increase the chances of success for a business? A study by the University of Oregon found that businesses with a written plan were more likely to succeed than those without one.

Counterintuitive Mantra:

The counterintuitive mantra for writing a business plan is to focus on the problem you're solving for your customers, rather than just the product or service you're offering. By understanding your customer's needs and pain points, you can develop a more effective and targeted business strategy.

Story from a Successful Individual:

Elon Musk, founder of Tesla and SpaceX, developed a detailed business plan for SpaceX when he founded the company in 2002. The plan included a detailed analysis of the rocket industry, potential customers, and technical requirements for building a rocket that could reach orbit. The plan helped secure funding from investors and has since led to multiple successful rocket launches and contracts with NASA.

Conclusion:

In conclusion, writing a business plan is an essential skill for any entrepreneur or business owner, and for GCSE business studies students. By understanding the purpose and components of a business plan and following a clear and structured approach, you'll be well on your way to writing a successful business plan of your own. Remember to focus on the problem you're solving, keep the plan updated, and review it regularly to reflect changes in the market and your business. For more resources on writing a business plan, check out the links below.

Further Reading:

Small Business Administration: https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

Entrepreneur: https://www.entrepreneur.com/article/247575

How do you research Business Studies in GCSE.

It can be difficult to properly research how business works in the uk and how to study for it when it comes to exams; that's where ucademy comes in. ucademy is an educational community which lets you learn effectively using the leading evidence based techniques. you simply login to your ucademy course, and then you can follow the in-depth session(s) on the best ways to study and prepare for gcse and beyond.

A little bit about us

From teaching few students to many students backed by cutting edge research and technology, Ucademy has grown exponentially over the years.

The founder of Ucademy, Usman Rana, attended the 3rd lowest ranked school by grades in Birmingham, where most students didn't achieve their GCSE grades.

Usman went onto study at the University of Oxford and at the University of Birmingham. Since founding Ucademy, we have supported an audience of 10,000+ for GCSE and A-level across the world, been featured in The Telegraph, and have helped students achieve places in competitive courses such as Medicine or at Oxford.

Quite the journey! You can read more on this  by clicking Here!

If you wish to Sign up to Ucademy, and Improve in your GCSE, A-level or 11+ . Make sure to click the previous link or check our "On Demand Courses" page!

This website works best with JavaScript switched on. Please enable JavaScript

  • Centre Services
  • Associate Extranet
  • All About Maths

GCSE Business

  • Specification
  • Planning resources
  • Teaching resources
  • Assessment resources
  • Introduction
  • Specification at a glance
  • 3.1 Business in the real world
  • 3.2 Influences on business
  • 3.3 Business operations
  • 3.4 Human resources
  • 3.5 Marketing
  • 3.6 Finance
  • Scheme of assessment
  • General administration
  • Appendix: quantitative skills in business

 Business planning

3.1.6 Business planning

components of a business plan gcse

Grade Booster exam workshops for 2024 . Join us in to Birmingham, Bristol, Leeds, London, Manchester and Newcastle Book now →

Reference Library

Collections

  • See what's new
  • All Resources
  • Student Resources
  • Assessment Resources
  • Teaching Resources
  • CPD Courses
  • Livestreams

Study notes, videos, interactive activities and more!

Business news, insights and enrichment

Currated collections of free resources

Browse resources by topic

  • All Business Resources

Resource Selections

Currated lists of resources

Study Notes

Business Planning - Introduction

Last updated 22 Mar 2021

  • Share on Facebook
  • Share on Twitter
  • Share by Email

The business plan sets out how the owners/managers of a business intend to realise its objectives. Without such a plan a business is likely to drift.

The business plan serves several purposes:it

(1) enables management to think through the business in a logical and structured way and to set out the stages in the achievement of the business objectives.

(2) enables management to plot progress against the plan (through the management accounts)

(3) ensures that both the resources needed to carry out the strategy and the time when they are required are identified.

(4) is a means for making all employees aware of the business's direction (assuming the key features of the business plan are communicated to employees)

(5) is an important document for for discussion with prospective investors and lenders of finance (e.g. banks and venture capitalists).

(6) links into the detailed, short-term, one-year budget.

The Link Between the Business Plan and the Budget

A budget can be defined as "a financial or quantitative statement", prepared for a specific accounting period (typically a year), containing the plans and policies to be pursued during that period.

The main purposes of a budget are:

(1) to monitor business unit and managerial performance (the latter possibly linking into bonus arrangements)

(2 )to forecast the out-turn of the period's trading (through the use of flexed budgets and based on variance analyses)

(3 )to assist with cost control.

Generally, a functional budget is prepared for each functional area within a business (e.g. call-centre, marketing, production, research and development, finance and administration). In addition, it is also normal to produce a "capital budget" detailing the capital investment required for the period, a "cash flow budget", a "stock budget" and a "master budget", which includes the budgeted profit and loss account and balance sheet.

Preparing a Business Plan

A business plan has to be particular to the organisation in question, its situation and time. However, a business plan is not just a document, to be produced and filed. Business planning is a continuous process. The business plan has to be a living document, constantly in use to monitor, control and guide the progress of a business. That means it should be under regular review and will need to be amended in line with changing circumstances.

Before preparing the plan management should: - review previous business plans (if any) and their outcome. This review will help highlight which areas of the business have proved difficult to forecast historically. For example, are sales difficult to estimate? If so why? - be very clear as to their objectives - a business plan must have a purpose - set out the key business assumptions on which their plans will be based (e.g. inflation, exchange rates, market growth, competitive pressures, etc.) - take a critical look at their business. The classical way is by means of the strengths-weaknesses-opportunities-threats (SWOT) analysis, which identifies the business's situation from four key angles. The strategies adopted by a business will be largely based on the outcome of this analysis.

Preparing the Budget

A typical business plan looks up to three years forward and it is normal for the first year of the plan to be set out in considerable detail. This one-year plan, or budget, will be prepared in such a way that progress can be regularly monitored (usually monthly) by checking the variance between the actual performance and the budget, which will be phased to take account of seasonal variations.

The budget will show financial figures (cash, profit/loss working capital, etc) and also non-financial items such as personnel numbers, output, order book, etc. Budgets can be produced for units, departments and products as well as for the total organisation. Budgets for the forthcoming period are usually produced before the end of the current period. While it is not usual for budgets to be changed during the period to which they relate (apart from the most extraordinary circumstances) it is common practice for revised forecasts to be produced during the year as circumstances change.

A further refinement is to flex the budgets, i.e. to show performance at different levels of business. This makes comparisons with actual outcomes more meaningful in cases where activity levels differ from those included in the budget.

What Providers of Finance Want from a Business Plan

Almost invariably bank managers and other providers of finance will want to see a business plan before agreeing to provide finance. Not to have a business plan will be regarded as a bad sign. They will be looking not only at the plan, but at the persons behind it. They will want details of the owner/managers of the business, their background and experience, other activities, etc. They will be looking for management commitment, with enthusiasm tempered by realism. The plan must be thought through and not be a skimpy piece of work. A few figures on a spreadsheet are not enough.

The plan must be used to run the business and there must be a means for checking progress against the plan. An information system must be in place to provide regular details of progress against plan. Bank managers are particularly wary of businesses that are slow in producing internal performance figures. Lenders will want to guard against risk. In particular they will be looking for two assurances:

(1) that the business has the means of making regular payment of interest on the amount loaned, and

(2) that if everything goes wrong the bank can still get its money back (i.e. by having a debenture over the business's assets). Forward-looking financial statements, particularly the cash flow forecast, are therefore of critical importance. The bank wants openness and no surprises. If something is going wrong it does not want this covered up, it wants to be informed - quickly.

  • Strategic planning
  • Marketing planning
  • Corporate planning
  • Business plan

You might also like

Marketing planning (revision presentation).

Teaching PowerPoints

Marketing Planning (Overview)

Business planning for a new business (revision presentation), analysing marketing data (revision presentation), corporate objectives, marketing objectives (revision presentation), internal and external influences on marketing objectives, planning a new business (gcse), our subjects.

  • â€ș Criminology
  • â€ș Economics
  • â€ș Geography
  • â€ș Health & Social Care
  • â€ș Psychology
  • â€ș Sociology
  • â€ș Teaching & learning resources
  • â€ș Student revision workshops
  • â€ș Online student courses
  • â€ș CPD for teachers
  • â€ș Livestreams
  • â€ș Teaching jobs

Boston House, 214 High Street, Boston Spa, West Yorkshire, LS23 6AD Tel: 01937 848885

  • â€ș Contact us
  • â€ș Terms of use
  • â€ș Privacy & cookies

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.

  • International
  • Schools directory
  • Resources Jobs Schools directory News Search

Business Plans - GCSE Business Studies Full Lesson

Business Plans - GCSE Business Studies Full Lesson

Subject: Business and finance

Age range: 14-16

Resource type: Lesson (complete)

Taylor Made Resources for Business, Computing + Humanities

Last updated

7 March 2021

  • Share through email
  • Share through twitter
  • Share through linkedin
  • Share through facebook
  • Share through pinterest

components of a business plan gcse

This lesson / resource is from Unit 1 - Understanding Business Activity and looks specifically at Business Plans .

To see this lesson in a full scheme of work, GCSE can be found here / A Level and IB can be found here

I normally teach this in Year 10 and it has been designed for GCSE with the following learning objectives:

  • Know what a Business Plan is and why a person might write one.
  • Understand what is required in writing a business plan and the features of one.
  • Assess the problems a business might have if they do not have a business plan

This download includes:

  • Full lesson PowerPoint
  • Round robin / search type activity
  • Lesson plan

All necessary resources to run the lesson are included in this download and this links back to earlier topics (enterprise / Entrepreneurs and Added Value) and also to later topics such as Legal Structures / Marketing.

The aim of all my resources is to provide lessons / activities of good quality that will add value to your lessons / schemes of work without any extra planning.

All activities and resources have been used in class and any errors will be fixed and resources updated as soon as I am aware of any errors. I have priced my resources at what I consider to be a reasonable cost based upon the amount of effort and work I have put into them but <strong> all comments and suggestions are very welcome </strong> and will be used to improve future resources.

If you have an idea for a topic / resource that you would like to see (or improvement for this resource), feel free to contact me.

Please do leave a review!

The contents of this page and all downloaded materials are copyrighted Taylor Teaching Resources Click here to see other resources in my shop

Tes paid licence How can I reuse this?

Your rating is required to reflect your happiness.

It's good to leave some feedback.

Something went wrong, please try again later.

This resource hasn't been reviewed yet

To ensure quality for our reviews, only customers who have purchased this resource can review it

Report this resource to let us know if it violates our terms and conditions. Our customer service team will review your report and will be in touch.

Not quite what you were looking for? Search by keyword to find the right resource:

Business plans and their purpose

Business Plans and Their Purpose

What is a Business Plan?

  • A business plan is a detailed written document outlining the goals, objectives, strategies, and financial forecast of a business.
  • It is usually created at the start-up phase of a business but should be revisited regularly as a business evolves and grows.
  • A business plan can also identify potential issues or risks that a business might face and provide possible solutions.

Purpose of a Business Plan

  • Guide for operation: Business plans provide a clear path that the business should follow. By having a well-laid plan, decision-making processes can be simplified and it helps to stay focused on the pre-determined goals and objectives.
  • Attracting investors: A business plan is a key tool in convincing potential investors or lenders about the viability of the business idea. It gives them a clear picture of the business’s potential for success and return on investment.
  • Evaluating progress: A business plan can actually act as a benchmark that allows the business to track progress and growth. It can help identify areas where the business has done well or where improvements need to be made.
  • Resource allocation: It aids companies in the optimal distribution of resources, ensuring they are used effectively to achieve set objectives.
  • Risk management: A good business plan outlines potential risks that the business might face and provides a guide on how to mitigate those risks.

Key Components of a Business Plan

  • Executive Summary: This is a brief overview of the business plan, highlighting all key points. It should inspire the reader to read more about the proposed business.
  • Company Description: This section gives clarification about the legal structure, location, type and nature of the business.
  • Market Analysis: Here, the business should denote the target market, customer demographics, market trends, and competitors. It helps to understand the unique selling proposition of the business.
  • Organisation and Management: It describes the organisational structure and the team who will be running the business.
  • Services or Product Line: This explains in detail what product/service the business is offering and how it serves the needs of customers.
  • Marketing and Sales: This section discusses the marketing and sales strategies to attract and retain customers.
  • Financial Projections: This provides an overview of projected revenue, expenses and profitability over the next three to five years.
  • Funding Request: If the business is seeking for investment, this section would detail the amount of funding required and how it would be used.
  • Appendix: This section has supporting documents like charts, graphs, designs, legal documents, etc.

Remember, a well-drafted business plan can be the difference between the success or failure of a business. A strong understanding of the above points will not only help in your exam preparation but also in real-life business scenarios.

components of a business plan gcse

INTERACTIVE VIDEO

It’s time to follow the journey of Finley Thomas, an aspiring entrepreneur who dreams of opening a small local shop. Throughout the interactive video, we will follow Finley through the process of creating a well-thought-out business plan, which is essential for the success of any business venture.

  • DETAILED EXPLAINER VIDEO
  • 10 QUESTION MULTIPLE-CHOICE QUIZ
  • 6 INTERACTIVE ACTIVITIES
  • INTERACTIVE CASE STUDY
  • SUPPORTING STUDENT WORKSHEETS

CASE STUDY ANALYSIS MP MECHANICS

The real-life case study explores the journey of Molly Pratt, who started her own mechanics workshop in a small town in Lincolnshire, specialising in luxury vehicles. Despite approaching a bank for a loan of ÂŁ20,000 to cover the costs of specialist equipment, she was unable to afford to employ any additional staff, resulting in high levels of stress. Unfortunately, MP Mechanics closed down in January 2019 due to a lack of interest in luxury vehicle repair and Molly's difficulties in managing the workload alone.

Teacher Resources

Join your school now, featured links.

  • Terms & Conditions
  • Cookie Policy
  • Privacy Policy

Connect with us

LearnWorlds logo

Sign in/up with Google

Sign in/up with Facebook

Sign in/up with Linkedin

Sign in/up with Apple

Sign in/up with Twitter

components of a business plan gcse

wisebusinessplans logo

  • Customer Reviews
  • Net 30 Account
  • Wise Services
  • Steps & Timeline
  • Work at a Glance
  • Market Research at a Glance
  • Business Plan Writing Services
  • Bank Business Plan
  • Investor Business Plan
  • Franchise Business Plan
  • Cannabis Business Plan
  • Strategic Business Plan
  • Corporate Business Plan
  • Merge and Acquisition Business Plan (M&A)
  • Private Placement Memorandums (PPM)
  • Sample Business Plans
  • Professional Feasibility Study
  • PowerPoint Presentations
  • Pitch Deck Presentation Services
  • Business Plan Printing
  • Market Research
  • L-1 Business Plan
  • E-2 Business Plan
  • EB-5 Business Plan
  • EB-5 Regional Centers
  • Immigration Attorneys
  • Nonprofit Business Plan
  • Exit Business Planning
  • Business Planning
  • Business Formation
  • Business License
  • Business Website
  • Business Branding
  • Business Bank Account
  • Digital Marketing
  • Business Funding Resources
  • Small Business Loans
  • Venture Capital
  • Net 30 Apply

Wise Business plans logo

  • Frequently Asked Questions
  • Business Credit Cards
  • Talk to Us 1-800-496-1056

Things you need in a business plan

8 Things You Need in a Business Plan

The Harvard Business Review says a good business plan is super important for entrepreneurs. It’s like a guide for them in the tricky world of business. The plan has different parts, and each part is like a piece of the puzzle for success.

components of business plan

For example, there’s the short and powerful Executive Summary that tells the most important things about the business. Then, there’s the smart Market Analysis that helps you understand what customers want.

All of these parts work together to make a strong plan. So, let’s take a closer look at these important pieces that help turn business dreams into successful reality.

What is a business plan?

A business plan is a detailed document that explains how a business works and what it aims to achieve. It outlines the business’s goals, strategies , and resources. It’s like a roadmap for the business, helping it stay on course and navigate challenges.

 The plan typically includes sections about the business’s description , market research , marketing and sales strategies, operations, management, and financial projections .

 Entrepreneurs use it to clarify their vision, secure funding, and measure progress. It’s a crucial tool for anyone starting or running a business, helping them make informed decisions and work toward success.

Need assistance in writing a business plan?

Contact our award-winning business plan writers now!

Eight Key Components of Business Plans

Crafting a business plan is akin to laying the foundation for a grand architectural masterpiece. It’s your roadmap to success, a strategic blueprint that breathes life into your entrepreneurial dreams. Allow me to take you on a journey through the essential components of this vital document.

  • Executive Summary
  • Business Description
  • Market Analysis
  • Marketing and Sales Strategy
  • Operations Plan
  • Management and Organization
  • Financial Plan

1. Executive Summary

Picture this as the dazzling opening act of your business plan, where you showcase your vision, mission, and why your venture is destined for greatness. It’s a compelling glimpse into the heart and soul of your business.

It’s like a short summary of your business, including what it does and what makes it special.

  • Advice: Keep it concise and engaging. Think of it as a teaser that makes people want to read more. Highlight what makes your business unique.

2. Business Description

Here, we dive deep into the DNA of your business. You’ll spill the beans on what you do, your industry, your history, and your grand plans for the future. It’s a snapshot that captures the essence of your business.

This part explains your business in detail, like what it sells, the industry it’s in, and its history.

  • Advice: Be clear about what your business does and why it matters. Describe your industry and explain how your business fits into it.

Free Example Business Plans

Explore our free business plan samples now!

3. Market Analysis

This section is where we turn detective. We unearth market trends, study customer behaviors, and dissect your competitors. It’s a treasure trove of insights that helps you navigate the marketplace.

Here, you look at the market your business is in. You study things like customer behavior and what other businesses are doing.

  • Advice: Research thoroughly. Understand your customers’ needs and your competition. Show that you know your market inside and out.

4. Marketing and Sales Strategy

Imagine this as the stage where you reveal your magic tricks. Here, you outline how you’ll entice and retain your customers. It’s where the art of attracting and selling meets strategy.

This section talks about how you’ll get customers and sell your products or services.

  • Advice: Outline your plan for attracting customers and selling your products or services. Focus on how you’ll reach your target audience and convince them to buy from you.

5. Operations Plan

Ever wondered how the show runs backstage? This is where you spill the beans. From location to logistics, it’s the nitty-gritty of daily operations. It’s the backbone that keeps your business standing tall.

It’s about how your business will work day-to-day, like where you’ll be located and how you’ll make your products.

Advice: Detail how your business will operate day-to-day. Discuss your location, equipment, suppliers, and how you’ll ensure quality.

6. Management and Organization

Introducing the cast and crew of your business. Who’s in charge? What’s their expertise? It’s where you showcase your dream team and the hierarchy that keeps everything in check.

This part introduces the people running the business and how it’s organized.

  • Advice: Introduce your team and their qualifications. Explain who’s in charge and how your business is structured.

7. Financial Plan

This section is your crystal ball into the future. It predicts your financial performance, balances your books, and forecasts cash flows. Investors love it, and you will too.

It’s like a prediction of how much money your business will make and spend in the future.

Advice: Be realistic with your financial projections. Include income, expenses, and cash flow predictions. Show how you’ll make a profit.

8. Appendix

This is your secret stash. All those extra documents, licenses, contracts, and accolades find their home here. It’s the vault of credibility that adds weight to your plan.

This is where you put extra documents like licenses, contracts, and other important stuff.

  • Advice: Use this section for supporting documents. Include licenses, contracts, and anything that adds credibility to your plan.

Hire our professional business plan writing consultants now!

Remember, your business plan isn’t set in stone. It’s a living, breathing document that evolves with your journey. It’s your guiding star, your go-to reference, and your pitch to investors, all rolled into one.

With a well-crafted business plan, you’re equipped to clarify your vision, rally support from investors, and steer your venture to success. So, let’s get started on your masterpiece!

Leave a Reply

Your email address will not be published. Required fields are marked *

Quick Links

Made in USA

  • Investor Business Plans
  • M&A Business Plan
  • Private Placement
  • Feasibility Study
  • Hire a Business Plan Writer
  • Business Valuation Calculator
  • Business Plan Examples
  • Real Estate Business Plan
  • Business Plan Template
  • Business Plan Pricing Guide
  • Business Plan Makeover
  • SBA Loans, Bank Funding & Business Credit
  • Finding & Qualifying for Business Grants
  • Leadership for the New Manager
  • Content Marketing for Beginners
  • All About Crowdfunding
  • EB-5 Regional Centers, A Step-By-Step Guide
  • Logo Designer
  • Landing Page
  • PPC Advertising

Wise Business Plan New Logo White

  • Business Entity
  • Business Licensing
  • Virtual Assistant
  • Business Phone
  • Business Address
  • E-1 Visa Business Plan
  • EB1-A Visa Business Plan
  • EB1-C Visa Business Plan
  • EB2-NIW Business Plan
  • H1B Visa Business Plan
  • O1 Visa Business Plan
  • Business Brokers
  • Merger & Acquisition Advisors
  • Franchisors

Proud Sponsor of

  • 1-800-496-1056

US flag

  • (613) 800-0227

Canada flag

  • +44 (1549) 409190

UK flag

  • +61 (2) 72510077

Australia flag

components of a business plan gcse

1.3 – Enterprise, Business Growth and Size

Entrepreneurship.

An entrepreneur is a person who organizes, operates and takes risks for a new business venture . The entrepreneur brings together the various factors of production to produce goods or services. Check below to see whether you have what it takes to be a successful entrepreneur!

  • Self-confident
  • Independent
  • Effective communicator
  • Hard working

Business plan

A business plan is a document containing the business objectives and important details about the operations, finance and owners of the new business.

It provides a complete description of a business and its plans for the first few years; explains what the business does, who will buy the product or service and why; provides financial forecasts demonstrating overall viability; indicates the finance available and explains the financial requirements to start and operate the business.

Some of the content of a regular business plan are:

  • Executive summary: brief summary of the key features of the business and the business plan
  • The owner: educational background and what any previous experience in doing previously
  • The business: name and address of the business and detailed description of the product or service being produced and sold; how and where it will be produced, who is likely to buy it, and in what quantities
  • The market: describe the market research that has been carried out, what it has revealed and details of prospective customers and competitors
  • Advertising and promotion: how the business will be advertised to potential customers and details of estimated costs of marketing
  • Premises and equipment: details of planning regulations, costs of premises and the need for equipment and buildings
  • Business organisation: whether the enterprise will take the form of sole trader, partnership, company or cooperative
  • Costs: indication of the cost of producing the product or service, the prices it proposes to charge for the products
  • Finance: how much of the capital will come from savings and how much will come from borrowings
  • Cash flow: forecast income (revenue) and outgoings (expenditures) over the first year
  • Expansion: brief explanation of future plans

Making a business plan before actually starting the business can be very helpful. By documenting the various details about the business, the owners will find it much easier to run it. There is a lesser chance of losing sight of the mission and vision of the business as the objectives have been written down. Moreover, having the objectives of the business set down clearly will help motivate the employees . A new entrepreneur will find it easier to get a loan or overdraft from the bank if they have a business plan.

Government support for business startups

According to startup.com , “a  startup is a company typically in the early stages of its development. These entrepreneurial ventures are typically started by 1-3 founders who focus on capitalizing upon a perceived market demand by developing a viable product, service, or platform”.

Why do governments want to help new start-ups?

  • They provide employment to a lot of people
  • They contribute to the growth of the economy
  • They can also, if they grow to be successful, contribute to the exports of the country
  • Start-ups often introduce fresh ideas and technologies into business and industry

How do governments support businesses?

  • Organise advice: provide business advice to potential entrepreneurs, giving them information useful in staring a venture, including legal and bureaucratic ones
  • Provide low cost premises: provide land at low cost or low rent for new firms
  • Provide loans at low interest rates
  • Give grants for capital: provide financial aid to new firms for investment
  • Give grants for training: provide financial aid for workforce training
  • Give tax breaks/ holidays: high taxes are a disincentive for new firms to set up. Governments can thus withdraw or lower taxation for new firms for a certain period of time

Measuring business size

Businesses come in many sizes. They can be owned by a single individual or have up to 50 shareholders. They can employ thousands of workers or have a mere handful. But how can we classify a business as big or small?

Business size can be measured in the following ways:

  • Number of employees: larger firms have larger workforce employed
  • Value of output:  larger firms are likely to produce more than smaller ones
  • Value of capital employed: larger businesses are likely to employ much more capital than smaller ones

However, these methods have their limitations and are not always accurate. Example: When using the ‘number of employees’ method to compare business size is not accurate as a capital intensive firm ( one that employs a large amount of capital equipment) can produce large output by employing very little labour (workers). Similarly, value of capital employed is not a reliable measure when comparing a capital-intensive firm with a labour-intensive firm. Output value is also unreliable because some different types of products are valued differently, and the size of the firm doesn’t depend on this.

Business growth

Businesses want to grow because growth helps reduce their average costs in the long-run, help develop increased market share, and helps them produce and sell to them to new markets.

There are two ways in which a business can grow- internally and externally.

Internal growth

This occurs when a business expands its existing operations . For example, when a fast food chain opens a new branch in another country. This is a slow means of growth but easier to manage than external growth.

External growth

This is when a business takes over or merges with another business . It is sometimes called integration as one firm is ‘integrated’ into the other.

A merger   is when the owner of two businesses agree to join their firms together to make one business.

A  takeover   occurs when one business buys out the owners of another business , which then becomes a part of the ‘predator’ business.

External growth can largely be classified into three types:

  • Reduces number of competitors in the market, since two firms become one.
  • Opportunities of economies of scale .
  • Merging will allow the businesses to have a bigger share of the total market.
  • Merger gives assured supply of essential components.
  • The profit margin of the supplying firm is now absorbed by the expanded firm.
  • The supplying firm can be prevented from supplying to competitors.
  • Merger gives assured outlet for their product.
  • The profit margin of the retailer is now absorbed by the expanded firm.
  • The retailer can be prevented from selling the goods of competitors.
  • Conglomerate integration allows businesses to have activities in more than one country. This allows the firms to spread its risks.
  • There could be a transfer of ideas between the two businesses even though they are in different industries. This transfer o ideas could help improve the quality and demand for the two products.

Drawbacks of growth

  • Difficult to control staff: as a business grows, the business organisation in terms of departments and divisions will grow, along with the number of employees, making it harder to control, co-ordinate and communicate with everyone
  • Lack of funds: growth requires a lot of capital.
  • Lack of expertise: growth is a long and difficult process that will require people with expertise in the field to manage and coordinate activities
  • Diseconomies of scale: this is the term used to describe how average costs of a firm tends to increase as it grows beyond a point, reducing profitability. This is explored more deeply in a later section .

Why businesses stay small

Not all businesses grow.Some stay small, employ a handful of workers and have little output. Here are the reasons why.

  • Type of industry : some firms remain small due to the industry they operate in. Examples of these are hairdressers, car repairs, catering, etc, which give personal services and therefore cannot grow.
  • Market size : if the firm operates in areas where the total number of customers is small, such as in rural areas, there is no need for the firm to grow and thus stays small.
  • Owners’ objectives : not all owners want to increase the size of their firms and profits. Some of them prefer keeping their businesses small and having a personal contact with all of their employees and customers, having flexibility in controlling and running the business, having more control over decision-making , and to keep it less stressful .

Why businesses fail

Not all businesses are successful. The main reasons why they fail are:

  • Poor management : this is a common cause of business failure for new firms. The main reason is lack of experience and planning which could lead to bad decision making. New entrepreneurs could make mistakes when choosing the location of the firm, the raw materials to be used for production, etc, all resulting in failure
  • Over-expansion : this could lead to diseconomies of scale and greatly increase costs, if a firms expands too quickly or over their optimum level
  • Failure to plan for change : the demands of customers keep changing with change in tastes and fashion. Due to this, firms must always be ready to change their products to meet the demand of their customers . Failure to do so could result in losing customers and loss. They also won’t be ready to quickly keep up with changes the competitors are making , and changes in laws and regulations
  • Poor financial management : if the owner of the firm does not manage his finances properly, it could result in cash shortages. This will mean that the employees cannot be paid and enough goods cannot be produced. Poor cash flow can therefore also cause businesses to fail

Why new businesses are at a greater risk of failure

  •   Less experience: a lack of experience in the market or in business gets a lot of firms easily pushed out of the market
  • New to the market: they may still not understand the nuances and trends of the market, that existing competitors will have mastered
  • Don’t a lot of sales yet: only by increasing sales, can new firms grow and find their foothold in the market. At a stage when they’re not selling much, they are at a greater risk of failing
  • Don’t have a lot of money to support the business yet: financial issues can quickly get the better of new firms if they aren’t very careful with their cash flows. It is only after they make considerable sales and start making a profit, can they reinvest in the business and support it

Notes submitted by Lintha

Click  here to go to the next topic

Click here to go to the previous topic

Click  here to go back to the Business Studies menu

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to email a link to a friend (Opens in new window)

18 thoughts on “ 1.3 – Enterprise, Business Growth and Size ”

I am SOOO surprised to use this website. My teacher lit uses this to make notes but he made it more complex by using those high fi words. But this, OMG it’s so ez when I read these notes it was so much easier than I thought I just love this THANKS SOOO MUCHHH!!!!!!

Like Liked by 1 person

thid is bestest nots for bussines studys thx

Wonderful information đŸ„°đŸ„° It really helped me a lot thanks for de info

What about value of sales ( for ways if measuring a business) ? Because the IGCSE textbook I use does talk about that..

Yes. You can add that as a measure of evaluating business size, but it too runs into the same limitations as the other measures.

okay, thank you !!

the absolute best

Like Liked by 2 people

HEy I would like if anyone here would be able to help me with business because im facing hella problems

you still have problems

yes i do too lol

If you are facing problem in Business Studies (IGCSE/O Levels), Feel free to contact me. My name is Afzal Shad and I have a website with same name. (Google: Sir Afzal Shad) and you will get my website to contact me.

Hope Admin of website won’t mind.

this one is really useful💓love this one

Thank you so much 🙂

Quite understandable 👌👌

exactly.. profit is NOT a measure of business size

Hey. In the Business Studies syllabus, it was mentioned that, and I quote “profit is not a method of measuring business size”, but it was mentioned here. I just wanted to point that out because I think that is an error that was published here. Thanks.

Well, Profit can also be a measure of business size but not alone. Most of the times we use a combination of sizes. For example, the Covered Area, the Capital Employed or even the Number of Employees can not be the perfect measure, if they are used alone.

We normally take combinations of Business Size to measure them. Using one won’t be an accurate measure.

Afzal Shad IGCSE /A Levels Business Teacher Google me: (Sir Afzal Shad)

Leave a comment Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed .

' src=

  • Copy shortlink
  • Report this content
  • Manage subscriptions

IMAGES

  1. 12 Key Elements of a Business Plan (Top Components Explained)

    components of a business plan gcse

  2. Business Plans

    components of a business plan gcse

  3. Business Plans

    components of a business plan gcse

  4. What Are The Main Parts Of A Business Plan

    components of a business plan gcse

  5. The 4 Must-Have Components of a Business Plan

    components of a business plan gcse

  6. 😊 Parts of a business. Main Components of a Business Plan. 2019-02-17

    components of a business plan gcse

VIDEO

  1. 1.2 Why create a business plan?

  2. Business Studies Grade 10 Business Plan and Components Video 1 Seg 2

  3. Business Studies Grade 10 Business Plan and Components Video 1 Seg 3

  4. Business Studies Grade 10 Business Plan and Components Video 2 Seg 3

  5. Business Studies Grade 10 Business Plan and Components Video 1 Seg 1

  6. Week 2 3 Lessons 1 Components of Business Analysis 2024 01 05 20 34 GMT

COMMENTS

  1. Business plans

    A business plan is usually made up of several sections: the business idea - what product or service the business will provide (this is usually the first section of a business plan) the...

  2. Starting a Business: Contents of a Startup Business Plan (GCSE)

    Cash flow forecast (important) + trading forecast A detailed business plan is needed if a more complicated or larger business is planned as a start-up, or if the entrepreneur needs to raise money from business angels or get a substantial loan from a bank. Here is a summary of the key content:

  3. Planning a New Business (GCSE)

    Level: GCSE Board: AQA, Edexcel, OCR, IB Last updated 22 Mar 2021 Share : What is a business plan? A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts.

  4. Top 10 Components of a Business Plan

    Top 10 Components of a Business Plan Updated on November 16, 2022 Written by Amanda Dixon Whether you're planning to open a shop that makes the best coffee or you want to sell eco-friendly office supplies, you'll need to explain why your business is necessary and how it'll differ from its competitors. That's where your business plan comes in.

  5. Edexcel GCSE Business Revision Notes 2019

    A business plan is a document produced by the owner at start-up, which provides forecasts of items such as: The business idea ( sub-topic 1.1.1) The business aims and objectives ( sub-topic 1.3.1) The target market ( sub-topic 1.2.2) The forecast revenues, costs and profits ( sub-topic 1.3.2) The cash-flow forecast ( sub-topic 1.3.5)

  6. Business planning

    GCSE AQA Business planning - AQA Video A business plan is an essential part of starting any business. Entrepreneurs create business plans to help them consider all of the elements they...

  7. Business Plans

    April 13, 2022 In this post Why create a business plan? What to avoid The purpose of a business plan Minimising risk Securing finance Formats of business plans Executive summary Company summary Products and services Market analysis Strategy and implementation Management and personnel Financial plan Reformulating a business plan

  8. Business Plans Explained

    Business Plans Explained - GCSE and A Level Business Revision 📝 This video explains what a business plan is, includes the contents of a business plan as we...

  9. GCSE Business Studies: How to Write a Business Plan

    In conclusion, writing a business plan is an essential skill for any entrepreneur or business owner, and for GCSE business studies students. By understanding the purpose and components of a business plan and following a clear and structured approach, you'll be well on your way to writing a successful business plan of your own.

  10. Subject content

    3.1.6 Business planning. understand the reasons why businesses create plans, including importance in setting up a new business, raising finance, setting objectives and detailing how functions of a business will be organised. understand the difference between variable costs, fixed costs and total costs. understand the concept of revenue, costs ...

  11. Business Planning

    The business plan sets out how the owners/managers of a business intend to realise its objectives. Without such a plan a business is likely to drift. The business plan serves several purposes:it. (1) enables management to think through the business in a logical and structured way and to set out the stages in the achievement of the business ...

  12. Business Plans

    pdf, 59.95 KB. pptx, 1.99 MB. This lesson / resource is from Unit 1 - Understanding Business Activity and looks specifically at Business Plans . To see this lesson in a full scheme of work, GCSE can be found here / A Level and IB can be found here. I normally teach this in Year 10 and it has been designed for GCSE with the following learning ...

  13. Business plans and their purpose

    A business plan is a detailed written document outlining the goals, objectives, strategies, and financial forecast of a business. It is usually created at the start-up phase of a business but should be revisited regularly as a business evolves and grows.

  14. What is a Business Plan?

    You will learn about the key sections of a business plan, including the business idea, people, aims and objectives, market research, finances, and business location. The video stresses the importance of thorough market research to identify gaps in the market and to understand customer needs and preferences.

  15. The 8 Key Components of an Effective Business Plan

    The plan typically includes sections about the business's description, market research, marketing and sales strategies, operations, management, and financial projections. Entrepreneurs use it to clarify their vision, secure funding, and measure progress.

  16. Typical Components of a Business Plan Flashcards

    Typical Components of a Business Plan. Flashcards. Learn. Test. Match. Cover Page. Click the card to flip 👆. The cover page usually includes the company name and address information, the author of the business plan, and the date the business plan was prepared.

  17. 1.3

    A new entrepreneur will find it easier to get a loan or overdraft from the bank if they have a business plan. Government support for business startups. According to startup.com, "a startup is a company typically in the early stages of its development. These entrepreneurial ventures are typically started by 1-3 founders who focus on ...

  18. PDF GCSE subject content

    GCSE specifications in business should enable students to: ‱ know and understand business concepts, business terminology, business objectives, the integrated nature of business activity...

  19. The 12 Key Components of a Business Plan (2023)

    1. Executive summary The executive summary briefly explains your business's products or services and why it has the potential to be profitable.

  20. GCSE Business- 1.6 Business Planning Terminology Flashcards

    Study with Quizlet and memorize flashcards containing terms like Business Plan, Why have a business plan?, The main components of a business plan and more. ... GCSE Business- 1.6 Business Planning Terminology. Flashcards. Learn. Test. Match. Term. 1 / 7. Business Plan.

  21. How To Write An Effective Business Plan

    Choose the pieces that are important for your business, and use them as an outline to form your plan. 1. Executive summary. This first page is your first impression. It explains what your business is and how it will be successful. You should include: Mission statement. Value proposition.

  22. GCSE Business Past Papers & Questions by Topic

    OCR GCSE Business. Past Papers. Exam paper questions organised by topic and difficulty. Our worksheets cover all topics from GCSE, IGCSE and A Level courses. Give them a try and see how you do!

  23. 10 Important Components of an Effective Business Plan

    Effective business plans contain several key components that cover various aspects of a company's goals. The most important parts of a business plan include: 1. Executive summary. The executive summary is the first and one of the most critical parts of a business plan. This summary provides an overview of the business plan as a whole and ...