Business Plans

Question 1

The purpose of a business plan is to…

Answer 1

…provide a roadmap for the business, secure funding, attract investors, and guide decision-making.

Question 2

The main components of a business plan include…

Answer 2

…executive summary, business description, market analysis, marketing strategy, operations plan, financial projections, and management team.

Question 3

The importance of a business plan is shown by…

Answer 3

…reducing risk, attracting investment, providing a clear focus, and enabling effective monitoring of progress.

Question 4

Main sources of information and guidance available to entrepreneurs are…

Answer 4

…government agencies (e.g., Business Growth Hubs), business advisors, online resources, industry associations, and networking events.