A business plan is a formal written document containing the goals of a business , the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map a plan that provides direction to the business. Written business plans are often required [ by whom? Existent templates  and guides, such as the ones offered in the United States by the Small Business Administration  can be used to facilitate producing a business plan.
How to organise your business planning cycle
Business Cycle in Economics - Definition, Example, Phases
If you want to know about business planning cycle, read on and you can learn a lot. A business plan is a necessity and it can help you in achieving your goals or objectives. Ideally, the cycle is followed in an annual basis because the objectives for the next year should be determined as well. Every business owner should know about the business planning cycle.
What Is a Business Cycle & Why Is It Important?
No matter what size your business is or will be, it is always good to have a business plan. A business plan is like an identification document for your new business with some more information than just a name. My very first business clients were three of my college classmates who wanted to start a service-based electronic company. They had many ideas with a lot of dreams of getting rich fast.
Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a good business plan—much less following a business plan template—often feels time-consuming and intimidating. After all, when done right, business plans have enormous payoffs. And yet, more than 1 in 10 prospective business owners said they do not intend to write a business plan.