Which of the following elements is NOT typically included in a business plan?

The inclusion of personal hobbies in a business plan is not typical as business plans are primarily focused on the operational and financial aspects of the business. Business plans are designed to outline the commercial enterprise, detailing elements such as the business's operations, market analysis, marketing strategies, and financial projections.

In contrast, business details provide a comprehensive overview of what the business does, including its products or services, target market, and competitive advantages. The ownership section outlines who owns the business and their responsibilities, which is crucial for understanding management structure. The finance section, particularly cash flow projections, is vital for forecasting the business’s financial health and sustainability, helping potential investors or lenders assess the viability of the business.

Personal hobbies, while they may reflect the interests of the individual behind the business, do not directly contribute to the business's operational strategy or objectives and are therefore excluded from a formal business plan.