Economic Development

European Union Aid Programme
for Turkish Cypriot community

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Announcements
  • 10.07.2018 - TRAINING ON MARKETING (NICOSIA)
  • 03.07.2018 - TRAINING ON DIGITAL MARKETING AND SOCIAL MEDIA (NICOSIA)
  • 21.06.2018 - BRAND MANAGEMENT TRAINING (FAMAGUSTA)
  • 12.06.2018 - TRAINING ON TRADE OPPORTUNITIES FOR AGRICULTURAL PRODUCTS (LEFKA/ LEFKE)
  • 07.06.2018 - TRAINING ON DIGITAL MARKETING AND SOCIAL MEDIA
  • 10.05.2018 - TRAINING ON EXPANDING YOUR MARKET (NICOSIA)
  • 08.05.2018 - TRAINING ON GREEN LINE TRADE (KARPASIA/ KARPAZ)
  • 27.04.2018 - TRAINING ON LEADING INNOVATION (NICOSIA/ LEFKOŞA)


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BUSINESS PLANNING

A business plan is a comprehensive description of the enterprise, the environment in which it operates, and how it needs to be managed in order to meet its objectives.

Whether you are a large company with an expansion project, or a start-up at the beginning of your journey, planning is an essential part of running a business. A business plan helps to plan and prepare for all aspects of the business and to utilise the necessary tools for achieving success. Operating without a business plan usually leads to wasting precious time, money and energy. A business plan is also a great motivational tool as it provides a reference point to track your progress.

The business plan clarifies perspectives on the business and its profitability, including:
market size, trends in company revenues, the capacity to repay investment expenditure, and eventually on the correctness of the adoption of strategic options. The definition of a business plan obliges the enterprise to reflect and to put necessary measures into place to better its performance.

Having a business plan will help to:

  • Present a business opportunity to see if it holds promise for success
  • Describe your business model and your plan to make money and stay in business
  • Provide good understanding of your sector and probable opportunities and threats
  • Analyse customers, understand their buying behaviours
  • Identify your competitors, their strengths and weaknesses
  • Examine your weaknesses and figure out how to minimise them
  • Determine your strengths and how to use them effectively
  • Set your values, that will guide you through difficult times
  • Determine measurable goals and objectives
  • Design a roadmap and timetable in order to reach your goals
  • Provide a description of your products and services
  • Reflect your marketing strategies
  • Analyse revenues, cost and profits.