The second essential purpose for creating a business plan is:
A)to guide the operation of the company by charting its future course and devising a strategy for following it.
B)to attract lenders and investors.
C)to file with the SEC before making a public stock offering.
D)to attract potential managers and employees to run the new venture.

Question

Quizplus · Accepted Answer

A business plan is crucial for attracting lenders and investors as it outlines the business's potential for success and profitability, which is essential for securing financial support.

The Second Essential Purpose for Creating a Business Plan Is