Which of the following is an important reason for preparing a business plan?
A)To persuade investors to invest in your company
B)To obtain financing from a bank
C)To use as a yardstick by which you can measure your business' performance
D)All of the above are reasons for preparing a business plan

Question

Quizplus · Accepted Answer

All of the options listed are important reasons for preparing a business plan. A business plan can be used to persuade investors to invest in your company, as it provides a clear outline of your business strategy, goals, and financial projections. It can also be used to obtain financing from a bank, as it demonstrates to lenders that you have a solid understanding of your business and how you plan to use the funds you borrow. Finally, a business plan is a valuable tool for measuring your business' performance over time, as you can use it to track your progress against your original goals and adjust your strategy accordingly.

Which of the Following Is an Important Reason for Preparing