Enlist any three points of importance in framing the business plan.

Question

Accepted Answer

The business plan: a) helps in determining the viability of the venture in a designated market. b) helps in providing guidance to the entrepreneur in organizing planning activities - identifying resources, obtaining licenses, working out legal requirements. c) helps in satisfying concerns of each group interested in the venture. d) provides room for self-assessment and self-evaluation. e) helps realize unavoidable obstacles suggesting termination before further investment. f) as investors focus on four Cs of credit: character, cash flow, collateral and equity contribution.