A business plan is a comprehensive written document that outlines a business’s goals and the strategy for achieving them. It serves as a roadmap for the business, providing a detailed overview of various aspects of the business, including its mission, vision, products or services, market analysis, competition, financial projections, and operational plans. A well-prepared business plan helps guide decision-making, secure financing, and communicates the business’s objectives and strategies to stakeholders.
ELEMENTS OF A BUSINESS PLAN
These are the key components of a business plan.
An executive summary. This is a concise summary of the entire business plan, highlighting the most critical points, including the business’s mission, key objectives, and summary financial projections.
A business description. This offers an overview of the business, including its legal structure, location, history, ownership, and a description of its products or services.
A market analysis. This is a detailed analysis of the industry and market in which the business operates. For example, if you are farming sheep for wool production, you need to include a detailed market analysis of the wool market in South Africa and abroad. This section includes information on market size, growth trends, target audience, customer needs, and the competitive landscape.
Competitive analysis. This offers an examination of competitors, their strengths and weaknesses, market share, and strategies. It should outline your business’s unique selling points and competitive advantages.
Esta historia es de la edición September 22, 2023 de Farmer's Weekly.
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Esta historia es de la edición September 22, 2023 de Farmer's Weekly.
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New farmers' seedling pitfalls
Inexperienced farmers may be tempted to grow seedlings from seed themselves, but they have much to gain by trusting a seedling grower at a nursery to perform this task for them instead
South African avocado production: a success story
Avocado production in South Africa has expanded markedly since the industry's humble beginnings over 80 years ago. From a small grove planted in 1938 in what was then Nelspruit, the industry has blossomed to seven million trees planted on 20 000ha. Dr Guy Witney, project manager at Great Brak Avos, spoke to Annelie Coleman about the country's avocado production.
Unlocking value through livestock exports
Exporting livestock might sound like a daunting business that's better left for big companies, but Gerrie Ferreira, who farms near Oudtshoorn in the Western Cape, has been doing it successfully for almost 30 years, sometimes in partnership with other breeders. He spoke to Glenneis Kriel about the huge potential this market holds, and offers some advice for farmers who are contemplating going this route.
An agribusiness's dedication to community upliftment
For agribusiness NWK, located in Lichtenburg, North West, corporate social investment is an important part of creating a positive influence alongside financial returns. Johan Bezuidenhout, NWK’s group manager of corporate marketing and communication, spoke to Annelie Coleman about why the company chooses to invest millions of rands in the area it operates in every year.
Empowering dreams, transforming lives
Since its launch in 2013, the Agri's Got Talent competition has revolutionised the lives of many farmworkers by unlocking their hidden talents and fostering a culture of empowerment. Glenneis Kriel spoke to various finalists about how the contest has changed their lives.
Foreign investment: agriculture maintains its appeal
South Africa remains a popular destination for foreign investors, despite an often negative outlook from its citizens. It is a gateway to Africa, and with its counterseasonal production to the Northern Hemisphere and favourable weather, local agriculture is especially well placed to attract foreign interest, bringing with it hope for rural communities
The real value and message of COP29 for SA agriculture
While the 2024 Conference of the Parties may have disappointed those who hoped for real progress, it's more important for South African agriculture to highlight its role in carbon mitigation
Improving efficiencies in feed and grain milling
Bühler, a Swiss-based company that provides solutions and equipment for various industries, including food and animal feed processing, has pledged that by 2025, it will deliver scalable solutions that will reduce energy, waste and water by 50% in the value chains of its customers.
Tips for better olive production
At an SA Olive Association field day in November, industry experts shared ways to improve olive production efficiencies, from soil preparation to harvesting.
More effort needed to protect vulnerable cheetah
On International Cheetah Day, commemorated every year on 4 December, emphasis was placed on the vulnerability of the species.
