Date Added: Jan 2010
A business plan is a document created at the beginning of a new venture, whether it is an entirely new business or a new venture within an existing business. Plans created internally are generally only as formal as they have to be, based on the company politics. They may not include all of the same standard sections as a business plan for a new business, and are only as detailed as required by the firm's managers. Most business plans are created for entirely new ventures, often by individuals who have never started a business before. In these cases, the primary purpose of the plan is to sell the idea of the business to potential funders, whether they are family members, friends, angel investors, or banks.