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Why is a Business Plan important to an entrepreneur?

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Reasons why a Business Plan is important to an Entrepreneur.

  • A business plan shows how capital will be raised and allocated.
  • It guides the entrepreneur to avoid making misstates.
  • The plan motivates one to achieve the set targets.
  • It is usually required by institutions or people who are likely to finance the project.
  • A plan is used to test the dreams and ideas of the entrepreneur.
  • A plan removes uncertainty and worry when starting a business.
  • It is used to evaluate the business by comparing the set goals and the achieved results.

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