(1) Business Plan

• What is a business plan?

  A document that outlines the nature of a business, its functional areas, future objectives, It acts as a roadmap for starting or growing a business
• How does a business plan help a business?

  It clarifies the objectives of the business and provides strategies for achieving them.
• Why is a business plan useful for securing finance?

  It helps convince lenders or investors, such as banks, by providing clear information about the business and its goals
• How can business owners use a business plan to track progress?

  By comparing actual progress against the objectives outlined in the plan.
• Why are start-up businesses that follow a business plan more likely to survive?

  A business plan provides guidance on how to meet objectives and helps secure necessary finance.
• What is the purpose of an executive summary in a business plan?

  It is in the business plan and it Summarises the main goals, findings, and recommendations.