Financial Management for Small Business Essay Example | Topics and Well Written Essays - 2750 words

Financial Management for Small Business - Essay Example In this case, it is critical to form a business plan to assist the agency’s long term objectives. This is especially if it is the first time trying to make it in this entrepreneurial venture (BARRINGER, 2008). Some of the aspects that surround this business need addressing so as to make it simpler to deal with the hurdles that these businesses face. This paper will examine such a plan in the car hire service, and how it may impact the growth and development of the business, in the long run. The name of the car hire service company will be Delta. The chosen business needs explaining because not everyone might comprehend the concepts being introduced in the car hire service. It must, therefore, articulate and explain these details to everyone so as to find out what might be needed to make the agency a success. The business plans formulated ought to look at all factors surrounding the business; the good, the bad, and the ugly. It must acknowledge the presence of all factors present in the environment that might enable it to grow, decline, or remain stagnant (FINCH, 2006). In order to attract a wide variety of customers, it is vital to have an image of the cars that are to be hired. In this fast globalising environment, the cars that need hiring are personal that are capable of running for many miles. These include personal cars that can accommodate a fairly large amount of individuals. Nowadays, individuals are keen on having the fun day out while visiting different areas. Having a car hire service that can address these needs is fundamental in the business’s growth. It is vital to understand their needs so as to have the right car to provide the customer (HOSMER, 1976).). Many young couples are interested in cars that are out for their interests. This means that; they want cars that are trendy and lavish to match the new lifestyle (JACKSACK, 1998). The common vehicle models from popular vehicle industries are the