1.4.4 Business plans - Word Drop

A business plan is a written document that sets out the business ______, the targets it works towards, and the plans for achieving them. It includes the business ______, which describes the product or service. Aims and objectives are the targets the business works towards. It also identifies the ______, the group of customers the business aims to sell to. Market ______ is the collection and analysis of data about this market.

The plan forecasts revenue, cost and ______, the amount left when costs are subtracted from revenue. A ______ forecast predicts the timings of money coming in and going out. It also lists possible ______ of finance. The chosen ______ is important because it affects costs and how easily customers can reach the business. The marketing ______ is the combination of factors used to influence customers to buy.

The main purposes of a plan are to minimise the chance of failure, known as ______, and to obtain ______ from lenders or investors. A clear plan can help a bank or investor decide whether to provide money.