Business Financing Factors Influencing Entrepreneurs’ Decisions to Prepare a Business Plan

Authors

  • David Dearman University of Arkansas at Little Rock
  • Joseph Bell University of Arkansas at Little Rock

Keywords:

Business Plan, Financing, Entrepreneur,

Abstract

This paper investigates factors that influence entrepreneurs’ decisions to prepare business plans. Data is obtained from a survey administered to clients of the Arkansas Small Business and Technology Development Center and designed to address various aspects of financing options, including availability/use of outside debt or equity funds and owner attitudes toward various funding options. Factors identified as influencing the decision to prepare a formal business plan in support of financing efforts include greater amount of required start-up costs, proportion of start-up costs raised from outside sources, and self-assessment of financial knowledge.

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Published

2011-12-31

Issue

Vol. 2 No. 1 (2011)

Section

ABR Journal Articles

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