business-plan
/ˈbɪz.nəs plæn/ IELTSAcademic
noun
A business plan is a written document that explains a business idea, goals, target customers, and how the business will make money. People use it to plan, start, or grow a business.
- She wrote a business plan before applying for funding.
- The startup needs a strong business plan.
- Our business plan includes sales and marketing goals.
Adinary Nuance
A business plan is more detailed and formal than a simple idea or plan. It focuses on customers, costs, income, and growth, so it is useful for investors and banks. A proposal may ask for approval, but a business plan shows the full path for the business.
In other languages
- Vietnamese
- kế hoạch kinh doanh
- Spanish
- plan de negocios
- Chinese
- 商业计划
- Japanese
- 事業計画
- Korean
- 사업 계획
Etymology
Business plan combines business and plan. It became common in modern company and startup writing in the 20th century, especially in entrepreneurship.
Common phrases
write a business planprepare a business planbusiness plan templatebusiness plan presentation
Synonyms
Related words
Frequently asked questions
- Is business plan formal or informal?
- It is formal. People use it in business, finance, school projects, and startup planning.
- What is the difference between a business plan and a proposal?
- A proposal asks for approval or support. A business plan explains the whole business in detail.
- Do I need a business plan for a small business?
- Yes, even a small business can benefit from one. It helps you plan costs, customers, and profits.
- Is business plan used in IELTS writing?
- Yes, it can appear in business, education, and entrepreneurship topics.