A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map (a plan) that provides direction to the business.[1][2]
Written business plans are often required to obtain a bank loan or other kind of financing. Templates [3] and guides, such as the ones offered in the United States by the Small Business Administration[4] can be used to facilitate producing a business plan.
^"Business Plan Definition - Entrepreneur Small Business Encyclopedia". Entrepreneur. Retrieved 2018-10-29. Business Plan - Definition: A written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement[.] A business plan is also a road map that provides directions so a business can plan its future [...].
^Bida Journal of Management and Technology. 1 (1). Bida: School of Business and Management, Federal Polytechnic: 113. 2008 https://books.google.com/books?id=qWYnAQAAIAAJ. Retrieved 21 December 2020. [...] business plan [...] a guide or roadmap for any business activity. A business plan can also be referred to as a blue-print or scheme of a business enterprise.{{cite journal}}: Missing or empty |title= (help)
