Which businesses need to write business plans?Multiple ChoiceOnly subsets of the three major ownership forms need to write business plans due to their complexity.All businesses should write business plans to create a framework for success.Only businesses that hire employees need to create a business plan.Only businesses that are structured as corporations are required to create a business plan.In reality, only businesses that are complex need to write business plans.

Writing a Business Plan is largely a process of:Group of answer choicesfinding the right format.revision and rewriting.step-by-step construction.getting others to write the plan.

A written business plan should have all the following except __________  *1 pointfinancial informationproduct or servicebusiness objectiveliquidation plan

Which of the following is true of business plans?Group of answer choicesInvesting time and effort into creating a business plan is not worthwhile for large, successful businessesAngel investors seldom request to view a business plan before pledging their aid.Formal business plans have no effect on the day-to-day success of small businessesOne of the prime reasons for creating a business plan is to secure investment funds for the firm.

What are the three main factors addressed in a business plan?Multiple Choicemission, vision, and metrics for successgoals, plans, and metrics for successmarketing plan, management plan, and financial planthe business, the plan, and the angel investorsexecutive summary, plans, and financials

Which of the statements below best describes the reasons why entrepreneurs must develop a Business Plan?Question 9AnswerA.It is a financial plan to attract start-up capital from investors.B.It displays the entrepreneur’s creative idea.C.It is a snapshot of where the entrepreneur wants to be in 2 or 3 years from now.D.It is a tool which enables entrepreneurs to determine how an opportunity will be advanced, how to secure buy-in and finance capital, a marketing strategy and other essential success factors.E.It is a plan for marketing and promoting an opportunity.