Build on that bright idea with a solid business plan.
A business plan is invaluable for both new businesses and existing small companies. It helps entrepreneurs analyze their business and the market to stay ahead of the competition, and obtain start-up capital and loans. This book has everything business owners need to create a clear and comprehensive business plan, including guidance on the important decisions that must be made before drafting a plan, a tutorial on business-writing basics, sample business plans, and more.

-In 2003, there were approximately 23.7 million businesses in the United States; of those, 572,900 were new businesses

-According to the Small Business Administration, two-thirds of new firms survive at least two years and about half survive at least four years; the firms with clear plans for survival are the ones that stick around

-More than 75% of small firms use some form of credit in their start-up or operations, which requires a solid business plan

 

 

 

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