A business plan for the small business owner:
A)is of relatively little importance due to the dynamic nature of the marketplace.
B)is synonymous with the marketing plan.
C)tends to stress how the entrepreneur will operate rather than detailing what he/she wants to accomplish.
D)contains both a marketing plan and a financial plan.

Question

Quizplus · Accepted Answer

A business plan for the small business owner should contain both a marketing plan and a financial plan. The marketing plan will outline how the business will attract and retain customers, while the financial plan will detail the financial goals and projections. While the marketplace may be dynamic, having a plan in place can help guide the business and make adjustments as needed. The plan should focus on both how the business will operate and what the entrepreneur hopes to achieve.

A Business Plan for the Small Business Owner