There are two main purposes for writing a business plan. The
first, and most important, is to serve as a guide during the life
of your business. It is the blueprint of your business and will
serve to keep you on the right track. To be of value, your plan
must be kept current. If you spend the time to plan ahead, many
pitfalls will be avoided and needless frustrations will be
eliminated. Second, the business plan is a requirement if you are
planning to seek loan funds. It will provide potential lenders
with detailed information on all aspects of the company's past
and current operations and provide future projections.