aspects of a business plan vocabulary

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Business Plan Glossary

Our glossary provides a list of terms commonly used in business plans and their meanings.

Appendix - A section at the end of your business plan for storing additional information, resources and supporting documents.

Business plan - A written document detailing the purpose, needs, objectives, activities or projected results of a proposed or existing business.

Business model - A plan for the successful operation of a business, including identifying sources of revenue and target markets, detailing products or services, and explaining how profits will be made.

Cash flow - A financial statement that shows a business’s cash balance and movement in and out of bank accounts within a particular timeframe.

Competitor analysis - Research and analysis relating to other businesses competing within your target market.

Executive summary - A section at the beginning of a business plan summarising the subsequent sections and providing an overview of the business purpose, needs, objectives, activities and projected results.

Exit strategy - A pre-planned means of an owner exiting the business, for example by selling it or retiring.

Goals - Specific and realistic achievements set out for a business to aim for, often within a certain timeframe.

Market research - Research relating to the products or services available in your industry, current trends, and consumer habits within your target market.

PEST analysis - Political, Economic, and Social Trends analysis – a popular framework for analysing political, economic and social trends and how they affect your business.

SWOT analysis - A framework for analysing strengths, weaknesses, opportunities and threats to a business.

Target market - The group of people your business intends to sell to, defined by their demographics, activities, habits, needs, or other attributes.