INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A business plan is helpful for which of the following reasons?
|
|
It helps a business set future goals.
|
|
|
It can take the place of an accountant.
|
|
|
It sets a course of action that cannot be changed.
|
|
|
It takes a long time to produce.
|
Explanation:
Detailed explanation-1: -The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.
Detailed explanation-2: -Summary/Overview A brief, but focused statement (a few sentences or paragraphs) stating why the business will be successful. This is the most important piece of a Business Plan because it brings everything together.
There is 1 question to complete.