To get external financing, an entrepreneur's business plan must pass the reality test, the competitive test, and the value test with potential lenders and investors.

Question

Quizplus · Accepted Answer

This statement is true. A business plan needs to demonstrate that it is based on a viable business concept, that it can compete in the market, and that it will provide value to investors and lenders.

To Get External Financing, an Entrepreneur's Business Plan Must Pass