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dc.contributor.advisorGoodwill, Chad W., 1969-
dc.contributor.authorEddy, Nathan W.
dc.descriptioniv, 13 p.en_US
dc.description.abstractSome business owners and entrepreneurs believe it is not necessary to write a business plan. This is one of the main reasons that almost ninety percent of the 1 million businesses started in the U.S. fail every year. They, however, are unaware that a recent survey involving thousands of small business owners showed that those who wrote business plans were twice as likely as those who didn't to grow their business into a successful one. This paper shows benefits of writing a business plan when trying to start and grow a business. Research done to write this paper included analyzing 2 textbooks, a real business plan of a very successful new business, and several scholarly articles, one of which included a very recent survey proving the increased chance of success coming from written business plans. Business plans provide owners with goals, ways to adjust to market changes, in-depth cost-benefit analysis and how to continuously improve their good or service and method of production. The most important aspect of this paper is the proof that writing a business plan greatly increases the chance for success of a business.en_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.relation.ispartofseriesSenior Individualized Projects. Economics and Business.;
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleThe Successful Business Plan and Why it Mattersen_US
KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email to request access to this thesis.

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  • Economics and Business Senior Individualized Projects [1145]
    This collection includes Senior Individualized Projects (SIP's) completed in the Economics and Business Department. Abstracts are generally available to the public, but PDF files are available only to current Kalamazoo College students, faculty, and staff.

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