Name and discuss the THREE main types of resources that have to be considered when compiling a business plan - NSC Agricultural Management Practices - Question 3 - 2021 - Paper 1

Human Resources: This includes the skills and expertise needed for the new business venture. It is essential to identify appropriate personnel who will contribute to achieving business goals. The effectiveness of the workforce directly impacts the success of the business.

Financial Resources: These consist of the funding required to start and sustain the business. It is crucial to outline the total fixed and variable costs, as well as to determine the sources of funding, whether through loans, investments, or personal savings.

Natural Resources: These include land, water, and other natural inputs necessary for production. The availability and quality of these resources play a vital role in the sustainability and efficiency of farming activities.