A business proposal is a formal document that outlines a plan for a specific project or service. It is typically created by a company or individual to persuade potential clients or investors to support their idea. The proposal includes details such as objectives, strategies, costs, and expected outcomes, helping the reader understand the value of the project. In many cases, a business proposal is submitted in response to a Request for Proposal (RFP) issued by a client. This document serves as a competitive tool, allowing businesses to showcase their expertise and solutions. A well-crafted proposal can lead to new opportunities and partnerships in the business world.