Business Plan

Business plan

Topic actuality A business plan is a springboard (трамплин), towards the establishment of a new business. Lenders may not even consider working with you if you do not have a thorough business plan. It is often required as supporting documentation with your loan or grant applications.

Practical importance Creating a good business plan is often the first step in starting a new business. This work is a brief overview of all sections of business plan in accordance with Belorussian legislation. It gives practical advice how to write each section, its contents and economic background.

What business plan is?

• A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable (достижимый), and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

• Business plans may target changes in perception and branding by the customer, client, tax-payer, or larger community. When the existing business is to assume a major change or when planning a new venture - a 3 to 5 year business plan is essential.

Main Aim

• In most cases, a business plan is created to illustrate the vision you have for your business, and to persuade others to help you achieve that vision. So your plan need to demonstrate on paper that you have a visualization of what your business is going to be. It needs to convince others that business concept can be successful and profitable. So the main aim is attraction of investments.

Your business plan should

• be professionally prepared to meet the needs of the Venture Capitalists;

• show your own project through the investor's eye;

• answer all the concerns of a potential contributor;

• not be boring. No one wants to read it. Put your executive summary first and get the readers’ interest on the first page.

Business Plan in Belarus

According to the decision 158 of the Ministry of Economic from August, the 31th, 2005, business plan should consist of 11 parts:

1. Executive summary

• Is written after all other parts. Highlights