A business plan is a detailed description of business management, a critical starting point for an organization's activities, launching a new project and building a business model, an important source of strategic information, a way of direct management impact on the future position of an enterprise. Business planning identifies ways to achieve profitability, minimize costs and return on investment.
The purpose of business planning is to ensure the stability of financial flows, determine business priorities and assess available opportunities.
A carefully thought-out and drafted business plan saves the business time and money in the long term perspective and has a direct impact on the capital raising potential and stability in a competitive environment.