A Business Plan

Carrie Childs
Business 205
1. What is the purpose of a business plan and why is it an essential first step for a start-up firm?
A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. …