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Starting up a business is an exciting time, but writing a business plan can seem daunting initially. However, being able to write a good business plan is an essential skill to have for any entrepreneur or new business looking to increase their chance of survival.

Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision makers see how specific projects relate to the organization's strategic plan.

A brief account of how the company began- You should mention in your business plan the history behind the formation of you company and the background of the founders and directors.

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