Does starting up a business require a business plan

[Kelvin7656]

A Business Plan Is Simply a Must-Have for Some Businesses. If you plan to approach a financial institution for a loan, apply for a small business grant, pitch your business idea to investors, or enlist the support of a business partner, a business plan is required.

 

[Samuel77]

According to my own point of view, I believe it is based on the kind of business you are about to start. if it's a mini business, I don't think it's require a business plan but if it is a standard business it really requires a business plan

 

[jimmann247]

Starting up a business need a business plan for easy business development, the plan will put you through in all what you need to do to get started and grow and develop more and expand and succeed.

 

[Alihaider]

A business plan is a useful document for any small business owner. ... Going back to the original question of whether or not you really need a business plan, you may still be able to build a successful business without a plan, but it's much easier to work with a construction business plan. Is. Your hands

 

[ossai]

I strongly believe before you start a business a business plan is required but do you think is compulsory

It is very important, to have a business plan, to know how much you invest, how does it sound, can you start building a house without knowing how much material cost before putting or investing money, for business to grow you have to think of the business plan to know all your expenditure.

 

[Blessingedidiong]

Planning is one of the major things needed in business. For a business to start up well, there must be proper planning. This helps the business get adequate funds, the needed technical know-how,the knowledge needed for the success of the business and the needed labour for the business.

 

[gbadebo9]

Business need a business plan that will spelt out how the expenditure and revenue so that the business will flourished. If u want to borrow to fund the business u need good business plan.what is the essence of having a good business plan it will enhance good productivity as a means of leverage the improvement on their profit. A good business is as good real business.

 

[Sarfraz Ali123]

Some good questions to ask yourself include:

What would you do if money wasn’t an issue?
Is money really important? Or rather, is making a lot of it really important? If it is, you’re probably going to be cutting out a number of options.
What really matters to you?
Do you have the support of your family, especially your immediate family? They may have to make sacrifices at the beginning, so it’s important to have them behind you.
Who do you admire in business? Maybe there’s even someone in the industry you’d like to go into. Why do you admire them? What are their likable traits? What can you learn from them?
Answering these questions (and many more) about yourself and your abilities isn’t necessarily going to ensure you’re successful, but it will get you thinking about your goals and about what motivates and inspires you. Use this time to make sure that you are matching the business you want to start to your personal aspirations.

 

[DareIsrael]

The important of having a business plan before you venture into a business can't be far-fetched. Business plan directs you on how you want to run your business. It shapes and gives you direction on how to run your business.

 

[Khezo]

Of course to start up a business, there would be need for a business plan without a business plan how would you be able to predict the success rate and growth of the business you plan on establishing so you do need a business plan

 

[Sotherefore]

if you are going into any business without a business plan I think you should rather stay clear from that type of business because you are likely going on a date machine because as a good business personality it is always advisable for you to have a business plan because that will guide your business on how you will succeed.

 

[Aotosyno]

Its very important to have a business plan when you want to start a business. The business plan makes you know what your business entails, what to expect within a specified period of time,how to run your business.its also makes you know how much you intend to make.

 

[Gilead]

In my opinion,the major factors that ensure the success of a business is proper feasibility study and a solid business plan. Without these the business is probably doom to fail.

 

[solomonmali]

An important first step is preparing a business plan to define your business, products and services, and outline your goals, operating procedures and competition. If your company needs funding from a traditional loan or venture capitalists, a business plan will be required.

 

[Gilead]

In my opinion,the major factors that ensure the success of a business is proper feasibility study and a solid business plan. Without these the business is probably doom to fail.

In my opinion,the major factors that ensure the success of a business is proper feasibility study and a solid business plan. Without these the business is probably doom to fail.

So it's only proper to have a business plan because without this the business is doom to fail indeed.

 

[Richard92]

All business requires business plan because business plan is the foundation for every business, a business without a plan will surely fail because you will not know what comes after the other planning for business is just like setting your goals and objective working towards them and achieving your aim.

 

[Johnbami]

Starting a business is something is that would require series of planing for it to be finally achieved. The problem most people or business organization have is that there is no good planñng for the business. If you want your business to last long. Have a business plan

 

[Abelcairo43]

Yes it is compulsory and important for one to have a business plan before starting up a business. Without a business such business is more likely to fail sooner than expected, but with a business plan you already know all the in and out of the business, what to do and what not to do etc

 

[Kehinde]

startup businesses draft a business plan for three specific reasons: to articulate their vision for the business, to document how they plan to solve key challenges, and to pitch their business idea to potential investors..

 

[solomonmali]

A business plan in any business organization is a document with every crucial information . It contains the following information: what you are going to sell or produce, the structure of your business, your vision on how to sell the product, how much funding you need, information on financial projections, among other details.