8.2.5 Summary of Key Points

A Business Plan is a formal written document that describes the short and long term goals of project or business venture and how these goals will be achieved. It will allow you to assess the viability of your proposal in a logical manner and will give you a document that you can use as a tool to sell your business concept to investors and lending institutions.

In this module you will have learned what a Business Plan is and what they key elements of a Business Plan are. You will know that the content of a business plan will depend on the proposal and the size of you business and you have the necessary tools to develop a Business Plan for your new project or proposal.