Chapter 3 Entrepreneurship (POB)

Its against federal/state law for banks to help entrepreneurs with preparing business plans. 

Business plans should not be handwritten. 

How long do most entrepreneurs spend developing their business? 

Business plans make you think about aspects of your business. 

Insurance+rental+lease agreements should be in the operations section of the business plan. 

A business plan...

Your business has to convince readers that your your business plan is practical. 

You can set up a meeting with a SCORE volunteer for a low fee of $25. 

What part of the business plan has supporting documents that back up statements from the report

Lenders and investors need a business plan before considering financing a business. 

You should talk about financial info in a business plan if it fails or someone else finds it. 

The title page of your business includes... 

Lenders want to know where your business will be because location affects business success. 

1st part of a business plan should include introductory materials like the statement of purpose

In the main body of a business plan, which part contains info about the ownership structure?

Which is NOT included in the introductory elements of a business plan? 

An exiting business...

What is NOT one of the main purposes of a business plan?