A Business Plan is an document where you plan your Business to have an organized and effective response to a situation which may arise in future. Business plan is not just for a start up company but also for those, which are growing. It can be used it to establish realistic goals or targets to achieve and to determine the current position.
Many people start a small business in order to enjoy the perceived rewards of freedom and independence. This is understandable because owning your own business can offer you the opportunity to experience freedom: the freedom to use your own ideas; the freedom to be the boss; the freedom not to be fired; and the freedom to earn as much as you want.
The reality of small business ownership can be quite different. Many small business owners will tell you that they work more hours than when they worked for someone else.
India ranks as one of the slowest countries in terms of the time taken to set up a new business. While it takes about 89 days to start a new business in India, in the US, it takes 5 days; in China, 41 days and in Pakistan, 24 days. For most developed nations, the duration varies between 10-40 days.
J V Godwin
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