Dear Friend
Establishing and running your own business can be a difficult task indeed unless you have a proper business plan. A well-crafted business plan is like a compass in a ship. Imagine a rudderless ship in deep sea whose captain does not know to which direction she is heading! An undesirable situation indeed.
A good business plan is the basis of a successful business. With it on hand, you always know where you are heading to. There is no doubt that starting your own business is the best option because there are benefits to be derived. To those who are unemployed and still looking for jobs, this is a starting point and the best option too!
A business plan helps you to run a profitable business, since you always have standards to adhere to. Whatever kind of business you start and on whatever scale you do it, there are few internal control systems required in any business. We often refer to them as powerful arms that work together to create wealth in your own business:
 Income stream
Your business creates a source of income, which although it may be small in the beginning, has unlimited potential.
 Protection against inflation
Even if the business does not grow, the selling prices of the goods or services it offers will have to be adjusted regularly to keep up with the pace of rising prices. This means that the net profit will grow more or less together with the inflation rate. The income stream thus grows continually and offers the owner an ideal hedge against inflation. If the business should also grow in real terms, then the income stream will really increase in tempo! The result for the owner will be financial progress at an exceptional pace.
 Tax Benefits
Besides the fact that the owner’s income will be increased, a business can also save a lot of money by bringing about substantial tax relief. A series of deductions that were previously not available, now become available. However big or small your business may be, you can rest assured that you will be able to reap the benefit of tax deductions.
 Capital Assets
The business itself is a capital asset in its own right. Any business, big or small, can be sold. Small businesses seldom come on the market (perhaps because the owners are unaware that they can be sold), although they are very much in demand.
A business therefore has the advantage of being a negotiable asset which can be built up out of nothing, or relatively little, and which can be sold at an attractive price.
 Personal Development
A business also offers further advantages such as better quality of life and personal development. Your own business develops the thought process, the sense of humor, acumen and creativity of the owner.
A business offers much more than mere financial reward. It is well known that family businesses make a meaningful contribution towards strengthening family ties and engendering a sense of family loyalty. Most business owners agree that an own business can only be advantageous.

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