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Is it mandatory to need a business plan.
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[QUOTE="TOZZIBLINKZ, post: 241655, member: 37528"] By definition a business plan is considered to be a resume of a particular business organisation or company that clearly states how the business handles matters possibly in areas of beneficiaries and other matters that affect the business organisation . For example the business plan clearly state how the business should facilitate and run during times of increase cost of production . The business plan also States the goals and objectives of the business . And if this is what business plan contains then I will say yes it is absolutely mandatory that every business have a business plan . A business plan could be likened to an anchor , anchored to a boat . The main function and benefits of the anchor to the boat is to keep it in motion so that it cannot find it way to the middle of the sea possibly when blown by wind . Same is also applicable to that of a business a business plan is like an anchor but in this case it helps to keep the business in the right direction so that the business can not shift from it purpose but rather stick to achieving its expected goals and objectives . Once more , it is 100% advisable that a business first of all has a business plan and every business owner must see that his business plans are actually accurate and reasonable not some sort of unreasonable , unwholesome , and unthinkable business plan . [/QUOTE]
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Is it mandatory to need a business plan.
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