What is a business plan?
In GCSE Business, a business plan is a detailed document that sets out the key goals, strategies and financial projections of a business.
The main aim of producing a business plan is to reduce the risk associated with starting a new business. It can help the owners raise finance and identify the resources needed to set up and operate the business effectively. Producing a business plan forces the owner to think about every aspect of the business before they start, which should reduce the chance of failure.
Contents of a business plan
Although the contents of business plans can vary, they typically include the following elements:
Business Plan Revision Resources to Ace Your Exams
Save My Exams has a great range of resources to explore the topic of business plans further.
Read our GCSE Business revision notes on Business Planning or test your knowledge of elements of the business plan with our exam questions to improve your grades.
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