Explain the basic steps required in setting up a small business unit?

• Step 1: Put together a business plan . There are a lot of resources on the Internet with guides on how to build a business plan. What exactly is a business plan .  A business plan is essentially a detailed roadmap on how you plan to achieve defined goals.

The level of detail in the plan varies greatly depending on the entrepreneur. Some plans have very elaborate projections, industry and competitor analyses, and financial forecasts. While other plans simply set some goals, some steps to take, a location, and a financing strategy.

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