Business Management

As you build your food business, you'll need to plan, organize and decide on the day-to-day operations of your business. The decisions you make regarding your business model, human resources and financial planning affect the efficiency and profitability of your business.

 

 

Business Model and Strategy

Your business model is the foundation of your company. It is the structure that supports the viability of your business and explains who your business serves, what it offers and how it offers it, and how it achieves its goals. It includes your company's policies and procedures.

If you plan to market your food product into retail, the following resources provide useful retail sector information and language to use in the retail landscape.

Human Resources

The human resource decisions you make affect your business's product development, financial planning and marketing plans. Recruiting and retaining high-performing, engaged staff is an important part of good human resource practices, especially as your business grows and demands on your time increase.

Financial Planning

As your build your food business, its revenues and profits will be increasing. It is important you understand your financial statements. If you have effective record-keeping systems, you will be better able to demonstrate your business's financial position when applying for financing.