Essay BUS206 – Preparing and Presenting a Comprehensive Business Plan – Entrepreneurship Assignment Help

Assignment Task

Instructions: This is a group assignment. You and your team members are required to generate a business idea, articulate the idea into a real business and prepare a comprehensive Business Plan covering the following areas required in setting up a new Business:

1. The new product or service that forms the core of the proposed Business. This should be realistic and clever enough to attract the attention of prospective readers.

2. What social or consumer needs the product/service is aiming at satisfying? This should be unique and realistic.

3. The Business Model – How do you like to set up the business. Does the business require production machinery and production facility, social networking, government approval, regulatory compliance, safety measures etc.?

4. Marketing details – have you researched the potential market for your product/service? What makes you believe that your idea will have demand to some customers. Who are your target customers and how you propose to reach them and sell your product/service?

5. Your team – who will be in your initial team to start up the business.

6. Financial forecasts – How are you going to cost your product/service? How are you calculating the expected selling price? Prepare estimates and projected financial statements for 3 years. This should include projected Income Statement, Balance Sheet, and a Cash Flow Statement.

7. The Income Statement should show the expected number of customers, units to be sold, revenues, costs, other running expenses, and expected profit/loss.

8. The yearly Balance Sheet show the Assets and liabilities for each of the three years.

9. The Statement of Cash Flows should show the amounts and various sources of cash inflows and outflows in those years.

10.An estimate of the amount of initial capital you need to start your business, stating the amount of capital you and your team members can contribute and the amount you require to raise from outside sources.