Contents

• A business plan provides a summary of how a business will be managed and how it will grow. The main components include an executive summary; company description; marketing, operational and staffing plans; management and organizational structure; a risk analysis and financial information including forecasts, cash flow statements, balance sheets and income statements.
  
  

Function

• The business plan serves two primary functions. The first is to provide a detailed blueprint for the start-up and successful operation of a company. It also serves as a financial prospectus for lenders and investors.
  
  

Considerations

• Good business plans are clear, concise, factual and based on substantial research. They are also dynamic and are updated as necessary to reflect the current state of the venture.