A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community. •When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their annual return in that timeframe.

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• A business plan is a formal statement of a set of business goals, the
reasons they are believed attainable, and the plan for reaching
those goals. It may also contain background information about the
organization or team attempting to reach those goals.
Business plans may also target changes in perception and branding
by the customer, client, taxpayer, or larger community.
• When the existing business is to assume a major change or when
planning a new venture, a 3 to 5 year business plan is required, since
investors will look for their annual return in that timeframe.
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