An example of a business plan is a document stating how advertising will be used to promote a new product.
(plural business plans)
- (business) A summary of how a business owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed.
business plan - Investment & Finance Definition
A comprehensive plan written by a potential or current small-business owner who is attempting to obtain venture capital financing, a bank loan, or other financing. The business plan is a blueprint for how the company intends to perform. It must spell out the company’s product or service, give a synopsis of its history, explain how the company is superior to its competition, and outline how it intends to be successful in its target market. Sales projections must be included in the business plan, along with financial performance statistics and future projections. The background, qualifications, and job functions for key players and managers also are included.