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Includes the purpose of the plan: Financial Plan, Products, Executive Summary, Company Description
Executive Summary
What are the disadvantages of creating a business plan?
It is difficult to do and expensive as well
Why are business plans used for potential investors and banks?
To invest money in your start-up
What are the advantages of creating a business plan?
It allows the entrepreneur to focus on what they want to accomplish/Allows the process they will take to do it become simple and easy//Allows them to accomplish
What does business plan mean?
It is a detail plan to start a business and avoid risks
What is not the component of business plan: financial plan, marketing plan, safety plan, executive summary
safety
SMART means:
Specific, Measurable, Achievable, Realistic, Timed
The preparation of a business plan is optional for some small businesses - True or False?
True
True or false: According to research, without a business plan, firms are more likely to close down.
True
Which section is completed last in business plan? tasks about your business or budgeting?
Budgeting
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