Business, Legal & Accounting Glossary
A business plan defines a business and its goals. A good business plan is an essential tool for starting and successfully managing a business. The typical business plan has detailed descriptive information and financial data. Non-financial data in a business plan usually includes a statement of purpose and executive summary, a discussion of marketing methods, an analysis of the competition, details of operating procedures, and bios of key personnel. Financial data for a business plan usually includes current financial statements, pro forma financial projections (typically for three years, by month and by quarter), and a breakeven analysis. The core of the business plan may be supported by legal documents, resumes of the principals, or other information that makes the business plan more informative for potential suppliers, lenders, and other interested parties.
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This glossary post was last updated: 4th February, 2020 | 2 Views.