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It is a business development proposal, designed for establishing a new venture as an entrepreneur. A new venture needs to have a detailed business proposal plan. This business proposal plan is a prescribed expression of the entrepreneurial vision along with description regarding the operations and strategy of the proposed endeavor. The main advantages of writing a detailed business plan is the offsetting the costs. Business plan enables the top management and executives in the firm to ponder about the business comprehensively, to converse the business objectives to personnel, to include a decision making base and to smooth the progress of the planning (George and Bock, 2012).