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What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business
All of the above
All partnerships must be 50 - 50?
Your business plan should never list any risks or potential problems.
True or False: Business plans are used by new, rather than established, firms
Which of the following statements about business plans is TRUE?
Business plans eliminate risk to lenders
Business plans reduce risk to lenders
Business plans increase risk to lenders
Business plans have no impact on risk to lenders
Which of these pieces of information would NOT be in a business plan put together by a new business?
An entrepreneur is creating a business plan for a new business ; they are including a section on sources of finance. Which of these are appropriate sources of finance to suggest? (Suggest as many as are appropriate)
Which of the following is it OK to leave out of a business plan?
None of the above