A business proposal is a formal document that outlines a plan for a specific project or service. It is typically created to persuade potential clients or investors to support a business idea. The proposal includes details such as objectives, strategies, costs, and expected outcomes, helping stakeholders understand the value of the project.
Business proposals can vary in complexity, from simple letters to detailed reports. They often include sections like an executive summary, market analysis, and financial projections. A well-crafted proposal can significantly increase the chances of securing funding or winning a contract, making it a crucial tool for entrepreneurs and companies.