A business plan is a document that sets out the aims and objectives of a business and how it plans to achieve them.

A business plan can be used to work out whether your business is going to be profitable. It can also be used to attract investors or to secure a loan from the bank.

The main information that should be included in a business plan is:

• the business concept
• how the business will be funded
• marketing strategies
• competition
• employees or skills required
• background information on the entrepreneur