Expert Business Plan Creation Services

According to a 2010 study conducted at Palo Alto, entrepreneurs who have a business plan are twice as likely to secure the capital they require compared to those who lack a plan. This increased likelihood stems from the fact that business plans offer potential investors a comprehensive overview of the company's strategy, market positioning, and financial forecasts. Consequently, investors find it easier to evaluate the risks associated with the investment.

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Lesonsky, R. (2010, June 20). A business plan doubles your chances for success, says a new survey. Small Business Trends. https://smallbiztrends.com/business-plan-success-twice-as-likely/

The results of a 2010 study revealed that businesses with a written business plan exhibited faster growth rates compared to those operating without such plans, a trend consistent even after adjusting for potential selection biases. This significant evidence underscores the role of a structured business plan in fostering entrepreneurial skills and ultimately enhancing overall performance.

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Burke, A., Fraser, S. and Greene, F.J. (2010), The Multiple Effects of Business Planning on New Venture Performance. Journal of Management Studies, 47: 391-415. https://doi.org/10.1111/j.1467-6486.2009.00857.x

According to a study conducted by TechnoServe in 2009, participants experienced a notable increase in one-year sales growth, doubling their sales figures, and recorded a 2.5-fold surge in two-year sales growth compared to non-participants. Additionally, participants were twice as likely to survive the initial two years of operation, highlighting the effectiveness of the program in bolstering business success and longevity.

 

TechnoServe. (2012, January). Business Plan Competitions Study 2009. Gates Foundation RFP # GD-AG-01 - bpc-practice-brief.pdf. https://www.technoserve.org/wp-content/uploads/2012/01/bpc-practice-brief.pdf

The findings from a 2021 SME survey demonstrate that the adoption and sustained use of strategic planning documents had a favorable effect on financial and economic outcomes. Enterprises experienced enhanced results when implementing strategic plans, indicating their importance for achieving success.

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Atanasova, A. (2021, December). INFLUENCE OF STRATEGIC PLANNING ON ENTREPRENEURIAL SMALL AND MEDIUM-SIZED BUSINESS. Full- EM - 2021.XIII_i.2_compressed.pdf. http://em.swu.bg/images/SpisanieIkonomikaupload/SpisanieIkonomika2021/Full-%20EM%20-%202021_v.XIII_i.2_compressed.pdf