Which of the statements below best describes the purposes of a Start-up Business Plan:Question 21AnswerA.All of these purposes.B.With a start-up business plan, nascent entrepreneurs or a new companies can describe the steps for initiating a venture.C.Start-up business plans explain what the nascent entrepreneurs and/or new companies wants to do and the product(s) or service(s) it intends to offer.D.Start-up business plans provide information for crowdfunding campaigns.E.Start-up business plans provide marketing reports and evaluations of targeted customer segments to potential investors.

Which of the statements below best describes the reasons why entrepreneurs must develop a Business Plan?Question 9AnswerA.It is a financial plan to attract start-up capital from investors.B.It displays the entrepreneur’s creative idea.C.It is a snapshot of where the entrepreneur wants to be in 2 or 3 years from now.D.It is a tool which enables entrepreneurs to determine how an opportunity will be advanced, how to secure buy-in and finance capital, a marketing strategy and other essential success factors.E.It is a plan for marketing and promoting an opportunity.

A new venture's business plan is important because?Question 14Answera.Provides a guide for business activities by defining objectives.b.Can help demonstrate the viability of the venture.c.It helps to persuade others to commit funding to the venture.d.All the three.

Which one of the five statements below about Business Plans is wrong/incorrect:Question 18AnswerA.Helps entrepreneurs to communicate their creative idea(s) to others.B.Business planning facilitates the analysis of the venture's potential and selection of an appropriate competitive strategy.C.Informs the market plan and marketing strategyD.Forces the entrepreneur to think clearly about all aspects of the proposed business.E.After development, a business plan should not altered to meet any changes in the context or situation of each opportunity/venture.

What does the entrepreneur need to discuss in detail in the Marketing Plan section of a business plan?a.Marketing expenditures.b.Recruitment and selection methods.c.Break-even analysis.d.Marketing strategy.

A new venture's business plan is important because ______.*1 pointt helps to persuade others to commit funding to the venture.Can help demonstrate the viability of the venture.Provides a guide for business activities by defining objectivesAll the above.