Business Plans & SBA

What is the primary purpose of a business plan?

• To secure funding

• To outline business goals

• To attract customers

• All of the above.

A business plan typically includes a section on financial projections. True or False?

• True

• False

Which of the following is NOT a component of a business plan?

• Executive summary

• Marketing strategy

• Personal biography

• Financial plan

True or False: The SBA provides loans directly to small businesses.

• True

• False

Which section of a business plan outlines the business's target market?

• Financial plan

• Marketing strategy

• Executive summary

• Appendix

What does the marketing strategy section of a business plan typically include?

• Product pricing

• Employee salaries

• Office location

• Company history

True or False: The financial plan section of a business plan includes cash flow projections.

• True

• False

A business plan serves three basic purposes: Communication, Management, and ________.

• Decoration

• Planning

• Marketing

• Selling

Investors are likely to ask about the ______ of a new venture.

• color

• nature and mission

• size

• location

Which of the following is a purpose of a business plan?

• Planning

• Painting

• Playing

• Partying