According to various statistics, over 80% of Businesses fold up after just 3years. Reasons include Business owners not putting into consideration certain factors before attempting to start up a business. Their major mistakes are:
- Inadequate Management Skills and
- Failure to prepare a proper Business Plan.
Addressing these issues would reduce this alarming statistic on failure rate. In light of this, more emphasis should be laid on the essentiality of a Business Plan.
REASONS WHY A BUSINESS PLAN IS NEEDED:
- Having such as low-interest development funds from the Central Bank (CBN) and Bank of Industry (BOI); as well as other Financial Institutions like commercial banks. Even organizations offering Grants often require a Business Plan! Investors need to be confident that the money being invested is not going into a “personal purse” or worse still, down the drain. Even Parents now ask their kids that are into business for their business plan because nobody wants his/her money to be redirected to “voicemail”.
- In addition, it helps the business promoter to start hassle-free and run in an effective and sustainable way.
- A business plan also enables you to project where you want your business to get to, gives you an insight on how far you have come and provides a barometer to check the progress of the business.
Whether you are planning to start a Plan – B business or expand an existing business, you need a business plan. Here’s some good news, the Lagos Chamber of Commerce and Industry, in partnership with Simply Exponential Consult Limited will be staging the “Writing a Bankable Business Plan” 1-day Workshop at the LCCI Exhibition Centre, Nurudeen Olowopopo St, Alausa on Thursday 19th April 2017. Course Fee: N20,000.00/participant which covers training materials, refreshments and certificate. For more details or to book for a seat (only 25 seats available) please contact Ayodele Akanmu on 08032206527 or send an email to [email protected].
Looking forward to seeing you there!
Facilitator: ‘Fayo Williams, Licensed ILO (International Labour Office) Start and Improve Your Business (SIYB) Master Trainer and Entrepreneurship Development Consultant