ENTREPRENEURSHIP

Detailed explanation-1: -The nature of a business describes the type of business it is and what its overall goals are. It describes its legal structure, industry, products or services, and everything a business does to reach its goals.

Detailed explanation-2: -What is a business plan? By definition, it is a “written document describing the nature of the business, the sales and marketing strategy, the financial background, and containing a projected profit and loss statement.” It is essentially a road map providing directions, so the business can plan its future.

Detailed explanation-3: -A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints.

Detailed explanation-4: -Keyterms. Is a written document describing the nature of the business, the sales and marketing strategy, and the financial backgroundcontaining a projected profit and loss statement. A business plan is also a road map that provides directions so a business can plan its future and avoid bumps in the road.