Classroom Video – The Business Plan

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A business plan is one of the most useful management tools the small business owner can use. It maps out what a business needs to do in a systematic and logical way. In this programme we discuss the importance of a well constructed business plan, visiting the three main components: the operations plan, the marketing plan, and the financial plan. Speaking to two successful small business owners, we discuss how they constantly refer to their business plan, and the role it played in their business success. A brilliant overview of this essential business tool.

Business online course

Information about business:

Business is the activity of making one’s living or making money by producing or buying and selling products (such as goods and services).
[need quotation to verify] Simply put, it is “any activity or enterprise entered into for profit.
It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors.”

Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business.
If the business acquires debts, the creditors can go after the owner’s personal possessions.
A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

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