Updated: Mar 9, 2022
A business plan is typically a lengthy and detailed document about how you intend to develop your business over the next three to five years. It includes detailed cost and revenue projections for resource planning, marketing, branding, sales, manufacturing, distribution, R&D, product development, etc.,. as well as competitor and supplier analyses, industry analysis, funding requirements, statutory requirements and legal obligations. Done properly, it normally takes months of research and writing to prepare. Many people do not have the time, energy or skills to do a business plan themselves or simply do not want to invest so heavily in one before knowing whether their product or business idea has legs. This is where the Business Case is invaluable.