The business plan is a key document for the creator of an innovative business. It specifies the business idea, the need that the company aims to fulfil, its strategy and the means needed for launching the activity. It also explains how the company is financed and what the expected results are. A clear and precise business plan helps entrepreneurs in presenting their ideas to financial, industrial, commercial and technological partners who might support them. In addition, it is necessary for other purposes such as for financial aid applications
The business plan is a tool useful for confirming that the entrepreneur's project is feasible. It also allows for the evaluation of the market potential and for a verification to be carried out, confirming the real demand for the firm's offer. The business plan defines the company's strategy. It is also an important tool for communicating with all potential partners of the future business.
A business plan usually covers the following points:
It is not a static document but rather a permanently evolving document subject to constant modifications. Keeping the business plan updated is a way of always having a clear and precise vision of the company's strategy.
Luxinnovation is available to provide company creators with advice and personalised comments on the business plan.