A business plan is written for three main reasons:

• To gauge the feasibility of a business
• As a tool for management
• To raise capital

The business plan is both a written summary of your projection for the business and a marketing document intended to attract potential investors. It should discuss your goals for the company and how your resources are going to work to help you meet those goals.

The business plan is very important to every start-up activity and should be maintained and updated regularly. It will help you to identify the competitive environment you need to operate in for your business to be successful. Additionally, it will improve your overall ability to manage your business, so the extra work will pay off!

Click here for a list of online resources that can help you prepare a business plan