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What is the main purpose of a business plan?

Answer and explanation

Correct answer: Giving direction to the business

A business plan sets out the venture’s objectives, target market, product or service, operations, required resources, marketing approach, expected costs, and possible revenue. It guides action and helps assess feasibility and funding needs. It is not a tool for hiding records, confusing customers, or spending without purpose.

Related tags

Business-PlanPlanningFeasibilityEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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