ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -A business plan is helpful not only in the initial stages of your company but also in future decision making. A business plan may help to convince suppliers to extend credit to your company. Writing out a business plan helps you convince people to buy your product or service.
Detailed explanation-2: -What is the purpose of a Business Plan? ✓ The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility.
Detailed explanation-3: -Depending on what you’re using it for, a useful business plan can be any length, from a scrawl on the back of an envelope to, in the case of an especially detailed plan describing a complex enterprise, more than 100 pages. A typical business plan runs 15 to 20 pages, but there’s room for wide variation from that norm.