what is one purpose of writing a business plan before entering the market?\n○ to prove that the new company…

what is one purpose of writing a business plan before entering the market?\n○ to prove that the new company will be successful\n○ to show that the enterprise is realistically based\n○ to have a useful tool when applying for funding\n○ to differentiate the new company from the competition

what is one purpose of writing a business plan before entering the market?\n○ to prove that the new company will be successful\n○ to show that the enterprise is realistically based\n○ to have a useful tool when applying for funding\n○ to differentiate the new company from the competition

Answer

Brief Explanations:

A business plan is a comprehensive document that outlines a company's goals, strategies, market analysis, and financial projections. One of its key purposes is to serve as a tool when seeking funding from investors or lenders. It provides them with an understanding of the business's potential, viability, and how their investment will be used. While it can show the enterprise is realistic and help with differentiation, the most direct purpose among the options related to funding - seeking is having a tool for applying for funding. It cannot prove a company will be successful as many factors are outside of what's in the plan.

Answer:

C. to have a useful tool when applying for funding