Business-plan definition

The definition of a business plan is a format statement about how a business will be run including the goals of the business, what will be done to reach the goals, the projected income and the projected expenses to reach the goals.

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.

(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.