Myths Vs. Facts

All organization at each stage of development need to set up business plans for planning and financing

• True

• False

The business plan must be succint, well-written and should focus on the lenders or investors principal areas of concern.

• True

• False

Business Plans should be as detailed as possible; the longer the plan, the better chance that the company will be financed.

• True

• False

Business plans should emphasize ideas and concepts, not people.

• True

• False

Optimism should prevail over realism

• True

• False

Only the founding entrepreneur should prepare business plans

• True

• False

Business Plans should be developed by a team of management within the enterprise

• True

• False

The Business Plan must display the zest of the founders of enterprise

• True

• False