Fundamentals of Entrepreneurship ENT300: La Dona Cafe/ Elissa Gee Thwaites ...[et al.]

Business plan 1s a set of documents prepared by a firm's management to summarize its operational and financial objectives for the near future and to show how they will be
achieved. It serves as a blueprint to guide the firm's policies and strategies, and is continually modified as conditions change and new opportunities and/or threats emerged.
When prepared for external audience (lenders, prospective investors) it details the past, present, and forecasted performance of the firm. In addition, usually also contains pro- forma balance sheet, income statement, and cash flow statement, to illustrate how the financing being sought will affect the firm's financial position.