Business Plan

A business plan is a detailed document designated for a potential partner (such as an investor) in an either operating or non-operating business and is meant to provide information and understanding of the business and the way in which it intends to make its profits. This plan is usually used by business owners for receiving a larger bank credit and is done by economists who specialize in this field.

Before writing a business plan,
a business analysis or feasibility assessment must be performed.

A business plan enables a business owner or entrepreneur to demonstrate the primary issues in the project or business and presents these issues in a positive light to the investors, buyers or any other factor involved in establishing the business. Before writing a business plan, a business analysis or profitability assessment must be performed to save a great deal of resources and investments.

A business analysis is a short procedure which takes place prior to writing the business plan and informs you of whether investing in a business plan for establishing a business is worthwhile. The analysis produces a recommendations report guiding the entrepreneur or business owner on what actions should be taken in order to increase the chances for business success.
 
In the event that a business plan had already been written, business analysis will inform you of the chances for success in the plan’s execution.