The business plan fulfills various functions, e.g. it is a planning tool for the entrepreneurial team or serves to speak to investors or cooperation partners. In the business plan, all the aspects of the start-up company are written down such as the business model, a market and competition analysis, marketing and sales, or the financial plan.
A business plan is created at the end of the entrepreneurial funding program EXIST or Young Innovators and at the start of founding the business. But that is not its only purpose: A business plan is a living document that should continually be updated. Only then can it work as a planning and steering tool.
