Lenders want to know where your business will be located because the location of a business is often a critical factor to its success.

Business plans should never be handwritten.

Your business plan needs to convince readers that you have come up with a practical business idea.

The executive summary should be written before you write the business plan.

A business plan makes you think about all aspects of your business.

The introduction section of the business plan includes a description of the business and goals, the ownership and legal structure, the skills and experience you have, and your advantages over competitors.

Trade associations exist to provide information, education, and networking opportunities to individuals in their industry.

It is against state and federal law for bankers to assist entrepreneurs in the preparation of a business plan.

You should never reveal any financial information in a business plan, in case the plan falls into the wrong hands.

The content of all business plans is the same, no matter the size or type of business.

Which of the following is a resource for information on a business plan?

Which part of the business plan includes supporting documents that back up statements made in the body of the report?

Which of the following is included in the introductory elements of a business plan?

Which of the following is NOT one of the main purposes of a business plan?

A business plan

Within the main body of the business plan, which section contains information about the ownership structure of the business?

The title page of your business plan includes

Which of the following is a good resource when preparing your business plan?

Which of the following is NOT a common mistake entrepreneurs make in their business plans?

You need $120,000 to start your business. You plan to invest $54,000 in the business and obtain financing from outside investors for the remainder. What will be your percentage of ownership?

If you intend to borrow 20 percent of the $56,000 you need to start a business, how much of your own funds are you investing?

Darlene needs $150,000 to start her new company. She will invest $80,000 in the business herself. If she has four outside investors, how much will each need to invest equally in the business?

The U.S. __________ is an independent agency of the federal government that was created to help Americans start, build, and grow businesses.

The __________ section of your business plan should describe your products and services, the market, the industry, and your location.

A(n) __________ is a written document that describes all the steps necessary for opening and operating a successful business.

A(n) __________ is a short restatement of your business plan.

A financial statement based on projected revenues and expenses is called a(n) __________ financial statement.

A(n) __________ strategy, or harvest strategy, is the way an entrepreneur intends to extract his or her money from a business after it is operating successfully.

A letter that introduces and explains an accompanying document or set of documents is called a(n) __________.

Organizations made up of professionals in a specific industry are called __________.

The personal financial statement of the owner would be included in the __________ to the business plan.

The __________ is made up of thousands of retired executives who volunteer their time to provide entrepreneurs with real-world advice and know-how.