<Tr> <Td> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> </Td> </Tr> <Ul> <Li> </Li> <Li> </Li> <Li> </Li> </Ul> <P> A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them . It may also contain background information about the organization or team attempting to reach those goals . </P> <P> Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community . When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe . </P>

Success in business is a function of effective planning discuss