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The business plan is an crucial document that describes the company and the main aspects of the proposed future development as well as products or services.
The business plan contains the results of the market analysis, production planning and sales plan. A mandatory part of the business plan is also the financial outlook of the company. A business plan is necessary not only to develop your corporate strategy, but also to calculate the economic feasibility of the investment project and to secure a bank loan.
When drafting a business plan, it is important to consider its purpose and its addressees. For example, a business plan for business immigration to Germany on the basis of § 21 is addressed to the Immigration Office and the regional Chamber of Industry and Commerce. It will have a different content than a business plan for a German bank. The Immigration Office and the regional Chamber of Industry and Commerce is primarily interested in the willingness to invest in the German economy, the possibility of creating jobs in Germany and the personal qualities of the investor such as his ability to establish a business in Germany.
When do you need a business plan:
- If you want to start a business in Germany
- If you want to become a German resident
- If you want to develop a business strategy for your project
- If you want to sell your business
- If you want to purchase a company in Germany
- If you want to minimize the risk of bankruptcy
- If you are looking to resolve certain business issues
- If you want to purchase new equipment
Also, if you are receiving unemployment benefits in Germany and want to start your own business and apply for bridge money or a grant to support the setting up of a new enterprise from the Employment Office.
The content of a business plan:
- The overview (Business Summary)
- Executive summary
- General company description
- Description of products and services
- Market analysis
- Production plan
- Marketing plan and sales strategy
- Financial plan
Business plan targets a specific audience and addresses the corresponding interests and needs of a credit institute, a private investor or an institution is designed for. German banks will not accept a business plan without a cash flow model.