TABLE OF CONTENTS The objective of this chapter is to help the new or prospective owner-manager to make a realistic, and hopefully, objective assessment of the viability of the proposed or new business venture. As mentioned in Chapter 2, the business plan document serves a number of functions from defining the business objectives and resources needed to deliver them, quantifying the objectives and resources in financial terms to generate forecasts and targets, identifying further financial needs, and also acting as a sales document for potential lenders or investors. It is in the latter role that the business idea section of the business plan comes to the forefront as the initial taster that whet stimulate interest and whet the appetite of potential financiers. As such it is essential that this section is geared towards just that:
by providing a concise and easy-to-read outline or summary of the proposed enterprise and its main activities;
by positively promoting the strengths of the proposal and its commercial viability;
by projecting a confident and positive attitude to the idea by the proposer(s) and their awareness of, and capability to handle any risks involved.
The business idea section of the business plan, the structure of which was outlined in the previous chapter, plays a key role in introducing the proposed venture to any banker or potential investor. It is intended primarily as an overview of the business plan, and as such, it does not have to be crammed full of detail that can follow later on ...
