Business plan as a support for the sustainable development of entrepreneurs

Abstract

Contemporary business on the market is characterized by numerous challenges that at the same time represent business opportunities for entrepreneurs. Identified opportunities must be elaborated within the framework of a business plan. The business plan is an instrument of the planning process that should indicate the possibilities, potential, and limitations of the realization of a business idea. The aim of the paper is to determine the contribution of the business plan to the success of the company, to state the advantages and disadvantages of its preparation, and to describe in detail the structure of the business plan. It can be concluded that a business plan directs an entrepreneur in business, but in today's turbulent conditions, it is difficult to define a precise plan. It is recommended to create a business plan by key points while leaving the detailed elaboration of the plan for later.