A written document that describes a company and makes projections over a five-year period is a business plan.
A business plan is a written document that describes in great depth the goals and objectives of a company. A business plan outlines a documented strategy for the company's operations, finances, and marketing. Business plans are used by both new and established businesses.
A business plan is a crucial document intended for both internal and external audiences of a company. For instance, before a business has built a solid track record, a business plan is utilized to entice investment. Securing financing from financial entities might also be beneficial.
A business plan can also help a company's executive team stay on the same page with regard to key action items and on track to achieve set objectives.
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