Multiple choice

Without a business plan you will not be able to...

  1. manage your business

  2. obtain a business loan

  3. make sales projections

  4. locate a space for your business

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Lenders and investors require a formal business plan to assess the viability and risk of a business before approving a loan. Without one, it is extremely difficult to secure external financing.