Abe and April are considering starting a family business,so their banker advised them to write a business plan because it helps an entrepreneur ____.
A)get financing and reduce competition
B)develop a mentoring plan
C)think through important details and focus on a code of ethics
D)get financing and think through important details,and it better guarantees success
E)develop a code of business and succeed

Question

Quizplus · Accepted Answer

Almost everyone starting a new business is advised to write a business plan.The reasons: Creating such a plan helps you get financing ("If you want us to invest our money,show us your plan").It helps you think through important details ("Don't rush things;it's best to get the strategy right").Finally,it better guarantees your firm will succeed.(A study of 396 entrepreneurs in Sweden found that a greater number of firms that failed never had a formal business plan. )

Abe and April Are Considering Starting a Family Business,so Their