Developing the business plan: for raising capital and guiding growth

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1.0 INTRODUCTION: The growth of any nation’s economy depends to a large extent on its well developed private sector. The Ghanaian economy realizing this has embarked on a lot of development strategies such as the Economic Recovery Programme which was launched in the early ‘80’ to reverse the nose diving trend of the economy. The present situation of the Ghanaian Economy suggests that the government is or has shifted its emphasis to the development of the private sector. This could be seen in the privatization of most Government owned Enterprises, which gives the private sector a hand in the efficient running of these enterprises. In the private sector of the economy there are small and medium scale enterprise with high potential and the needed skills to undertake very good ventures. The expansion and growth of these enterprises are slow due to lack of laid down business plans which could guide growth and help in the raising of venture capital. This could be due to ignorance about the uses or the need for a business plan.
A thesis submitted to the Board of Postgraduate Studies, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirement for the award of Postgraduate Diploma in Industrial Management, 1996