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The Concept of business plan may be defined as the formal statement of a set of business goals, the reason they are believed attainable and the plan for reaching those goals.Every business organization needs a business plan for its functioning A business planning comprises a process of gathering basic information that can help the company to foresee the potential risks and develop strategies for dealing with them before they occur.

A business plan is a tool of communication for every business lionization. The business planning is done to make the owners and teams accountable.It can result in more freedom and flexibility for the owner.

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