Why do we write a business plan?

We write a business plan to define our business goals, strategies for achieving them, and the timeline for success. It serves as a roadmap, guiding day-to-day operations and decision-making. In Canada, a business plan is essential for securing funding, as it demonstrates to investors and lenders the viability and profitability of the business. It also helps in identifying potential challenges and opportunities in the market, ensuring that the business is well-prepared to navigate the competitive landscape and regulatory environment.