BALANCE SHEET -  a formal statement of how much a business earns and what it spends over a year, BREAK EVEN - when income and expenditure are the same and the business starts to make a profit, BUDGET - the amount of money available and an account of how it is to be spent, EXECUTIVE SUMMARY - an overview of your business idea presenting the key points, MARKETING PLAN - how you intend to promote your business, LOCATION - an indication of where your business will be situated and a description of the premises, SWOT ANALYSIS - the risks and potential rewards of your business venture, FINANCIAL FORECASTS - an outline of the fixed and variable costs for the first year's activity, TARGET CLIENTELE - the specific group of customers your business is able to attract, MANAGEMENT TEAM - a description of key personnel outlining their roles, experience, and expertise,

CREATING A BUSINESS PLAN: vocabulary review

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