(i) A business plan is a comprehensively written down document prepared by the entrepreneur describing formally all the relevant external and internal elements involved in starting a new venture.
(ii) It is a ‘road map’ required by the venture to evolve from an early start up to a mature business.
(iii) It workout all the relevant external and internal elements involved in starting a new venture and then running it successfully.
(iv) It is a formal statement of a set of business goals to be achieved by the enterprise.
