Question: what is the meaning of a “business plan”?
I think business plan means what i am thinking is that you need to know what type of business you r starting and what type of expenses you will have. right? if not then please explain it to me.

Answer:

Answer by Nunoyvgvna Awi
a business plan is an actual plan that you put together in paper/binded format to hand to a bank, loan officer or to keep the business you are running on track.

one would consist of what the business is expecting to do this year, next year and the following year. some are 3 year reports, some are 5 year reports. you explain how you will expand the company, into what markets, how you will advertise, how and where to find employees, everything about the business.

no one will hold you to the business plan but it shows banks and lending institutes that you are serious about the business, its course and its well being.

anyone can say they want to own a business, open a business….but only those that truly want it….will do a business plan.

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