Business Plans - Frequently Asked Questions

 
 
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 Why do I need a business plan?
A business plan helps you systematically think through the steps involved in your business development. By completing a business plan you will better understand the markets, costs and competitive factors that will influence the future of your business. A well thought out plan gives you a good understanding of the financing and resources you require. Think of a business plan as a working document, one that changes, expands and shifts with the times. As well as a planning document for you, a business plan is often needed so as to be able to obtain financial assistance.

What is included in a business plan?
A business plan is a description of your business, including your product, your markets, your management team and your financial needs. Your plan should also include a marketing strategy and a risk management strategy.

Where can I find information on business plans?
Information on developing business plans is available from provincial government departments, the federal government, business service centres, chartered banks, libraries, universities and consulting companies. It is very important that you are actively involved in the development of your business plan as you are the one that has to make the business decisions. The research and gathering of information helps you more fully understand all elements and factors that may affect your business.

Further information can be found on the Alberta Agriculture and Rural Development web site www.agriculture.alberta.ca or by calling Alberta Agriculture New Venture Specialist at 310-FARM(3276)

Starting and Growing a Business: Developing Your Business Plan

Prepared by Kathy Bosse, Ag - Info Centre, Alberta Agriculture and Rural Development
 
 
 
 
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For more information about the content of this document, contact the Ag-Info Centre.
This information published to the web on February 6, 2004.
Last Reviewed/Revised on April 21, 2015.