Research suggests that firms without a business plan are less likely to close down than firms with plans.

Question

Quizplus · Accepted Answer

This statement is not supported by research. In fact, studies have shown that businesses with well-developed business plans are more likely to survive and thrive than those without plans. A solid business plan provides a clear set of goals and strategies to guide decision-making and help ensure long-term success.

Research Suggests That Firms Without a Business Plan Are Less