Creating a proper business plan is key to facilitating decision-making, given that this plan allows determining whether a particular business idea is economically, commercially and financially viable.
Therefore, creating a business plan becomes crucial when making decisions in various situations, such as:
- Creation of a new business.
- Desire or need for expansion of an existing business.
- Expansion of the company activity to other businesses.
- Seeking and obtaining external financing.
- Onboarding new partners.
- Obtaining official grants or subsidies.
In certain circumstances, it is essential to propose and make changes to business variables that may impact economic aspects.
A viability plan can establish the implications that such changes might have on a financial and economic level to a company and helps when making decisions in various situations such as:
Relaunching a company.
Handling bankruptcy proceedings.
Seeking and obtaining external financing.
Onboarding new partners.
Obtaining official grants or subsidies.