Question
Explain five benefits of business plan.
Answer
- It can be used as a tool for raising capital.
- It sets out a road map on how the business will be established and managed.
- It helps in reducing uncertainties.
- It helps to ensure that there is effective utilization and proper utilization of resources.
- It provides for a systematic feedback process which ensures that there is regular evaluation of performance.
- It helps in countering competition
- It sets out a road map on how the business will be established and managed.
- It helps in reducing uncertainties.
- It helps to ensure that there is effective utilization and proper utilization of resources.
- It provides for a systematic feedback process which ensures that there is regular evaluation of performance.
- It helps in countering competition
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