Business Plan Quiz

What is a business plan primarily intended to do?

• Present information on the entrepreneur's personal life

• Outline the entrepreneur's favourite hobbies

• Convince stakeholders that the business will be successful

• Share details of the entrepreneur's high school education

Which of the following is NOT included in the format of a business plan?

• Financial Budget

• SWOT Analysis

• Management Plan

• Contents Page

The section of a business plan where you describe what product or service will be offered is:

• Goals of the business

• Production Plan

• Marketing Plan

• Description of the product or services offered by the business

What should a business plan clearly explain about the location of the business?

• The street address

• Proximity to the entrepreneur's home

• Size of the building

• Description of the location

Which section of a business plan might provide information on the competition in the market?

• Management plan

• Production plan

• SWOT analysis

• Financial plan

The goals of a business plan include:

• Discussing the entrepreneur's failures

• Explaining the vision and goals of the business

• Outlining the entrepreneur's financial plan

• Ignoring any long-term planning

What does the SMARTER approach help with in a business plan?

• Setting financial budgets

• Identifying short-term, medium-term, and long-term goals

• Creating the business logo

• Selecting the business name

A business plan might assist an entrepreneur in obtaining:

• Favouritism from the bank

• Financial resources

Why is a cover page essential in a business plan?

• To list all the employer's future plans

• To provide key details and make a professional impression

Which of the following is typically NOT an element of a business plan's cover page?

• Business logo

• Name of the entrepreneur

• Executive summary