Topic: You must prepare a basic business plan for a small or medium enterprise(SME) that is either (i) hypothetical (that you envisage) or (ii) operating in real-life(with which you are somewhat familiar with).Objectives: To design the fundamentals of a business that is viable (i.e. profitable)and to ensure and demonstrate this in as many aspects of the project as possible. Thefollowing conditions must be met:- Overview: Summarize key background information about your company;explain its main purpose and aims.- Products or services: Describe your main products or services. Whycould they be unique and appealing to consumers?- Target market: Is there a clear (medium or long-term') demand for it? Isit worthwhile to start dealing with it at all?Competition: What are some of the drivers of competition? What aresome strengths and weaknesses of your competitors?Site selection: Some fundamental geographical and economic advantagesand disadvantages of the chosen site should be considered, and a basicreasoning for the decision should be given.- In addition to the above, you must select one of the following fourtopics to be elaborated in detail:o Human resources: Describe the essential human resources neededfor your business. Estimate how much time and labor you will needfor the tasks to be performed. The tasks associated with theworkforce, the time to complete them and the wages must berealistic.o Operations plan: The primary operation of the business must beplanned. Provide basic information on facilities, equipment, andpersonnel requirements. o Marketing strategy: What marketing strategy will you use tospread the word about the existence of your product or service toconsumers / users?o Financial plan: Provide a rough budget (including income,expenses and cash flow forecasts) for the first few years of thebusiness. What are the most important fixed and variable expensesthat you expect?Further expectations: The plan must be (1) realistic, (2) feasible and (3) authentic!(1) Realistic: Adapt the activities of the business to your possibilities,knowledge and reality! Do not take on tasks you cannot do or requireexpertise you do not have†!(2) Feasible: The proposed business does not have to be a unique startup. It isexpected that the aspects presented are feasible, supported by appropriatejustification and data.(3) Authentic: The data in your business plan must come from authenticsources.II. Formal requirements:Upload to moodle a formal business plan in .doc or .docx format before the deadline.Other formats will not be accepted.The paper should meet all the general requirements related to style, structure,paragraphing and referencing of academic papers learnt in Academic Skills.Proper referencing throughout is of paramount importance. Even in the case of ahypothetical company's business plan appropriate formal sources (further to thecourse material and textbook) must be used primarily in relation to the businessenvironment in which the business will operate in. These all must always beclearly referenced!A paper can be uploaded several times, only the last version will be read and assessed.Do not leave the first upload to the last 24 hrs!

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Overview - It would be easier to run a franchise rather than starting with the new…