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By on February 13 2018 14:15:52

A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?

A standard business plan consists of a single document divided into several sections, including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.

Do I Need a Simple or Detailed Plan? A corporate business plan for a large organization can be hundreds of pages long, but for a small business it is best to keep the plan as short and concise as possible, especially if you intend to submit it to bankers or investors — 25-30 pages should be sufficient unless you need to include photos of products, equipment, logos, business premises or site plans, etc. Potential money-lenders or investors will be looking for solid research and analysis in your plan rather than long, wordy descriptions.

Think you have a great idea for a business? That best way to find out is to do your background research and write a business plan to see if your idea is feasible. The simple business plan template presented here can get you started on creating a business plan for your new enterprise.

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