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GCSE Business · key term
A document setting out what a business intends to do and how it intends to achieve its objectives.
Used by AQA, Edexcel and OCR
Paper 1, Paper 2
A written document describing a business, its objectives, how it intends to operate and develop, and its financial forecasts.
Revise: Purpose, Sections and Evaluation of Business PlansA business plan is a written document describing a business, its objectives, how it intends to operate and develop, and its financial forecasts. It connects what the owner wants to achieve with the practical arrangements and money needed to achieve it.
Specification 1.4.4 · Paper 1
A document setting out a business idea, its aims and objectives, proposed activities and financial forecasts. It guides decisions and helps lenders and investors assess the business.
Revise: Business PlansA business plan is a document that brings these decisions together. It sets out the business idea, its aims and objectives, how it intends to operate and its financial forecasts. Preparing it before starting encourages the owner to investigate the idea before committing money and resources.
Paper 1
Revise: Purpose of Business PlanningA written business plan can bring these decisions together, but planning is the thinking and preparation behind them.
A document setting out what a business intends to achieve and how, including its market, resources, marketing and finance.
Do not claim that a business plan guarantees success or finance. Its usefulness depends on realistic research and willingness to update it.
You need to understand and analyse business plans; you are not expected to write one.
A business plan can help obtain finance; it does not guarantee that a bank or investor will provide it.
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