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WorksheetsSGS Y11 Knowledge Tests - Business Plans
Total questions: 12
Worksheet time: 6mins
A business plan is a document setting out the business
Idea
Profit levels
Expected losses
Growth
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business
All of the above
Your business plan should never list any risks or potential problems.
True
False
Which of the following statements about business plans is TRUE?
Business plans eliminate risk to lenders
Business plans reduce risk to lenders
Business plans increase risk to lenders
Business plans have no impact on risk to lenders
An entrepreneur is creating a business plan for a new business ; they are including a section on sources of finance. Which of these are appropriate sources of finance to suggest? (Suggest as many as are appropriate)
Grant
Retained profit
Owner savings
Bank loan
Which of the following is it OK to leave out of a business plan?
Executive summary
Location
Marketing
Employees needed
None of the above
A business plan would normally be updated:
Every day
A month after the business starts
Once a business adjusts its aims/objectives
Every so often
Never - It stays the same in its original form
Which of the following would be interested in seeing the business plan of a new company?
Customers
Potential investors
The owners of the company
Banks/ potential lenders
Local council
What elements are not of a business plan?
Introduction
Management Plan
Insurance Plan
Marketing Plan
Financial Plan
