Is the Business Plan a Dated Instrument or an Unavoidable Step for the Entrepreneur?

Abstract

The business plan is an exercise required for all entrepreneurs. Its objective is to provide a framework for entrepreneurial action and obtain the necessary funds to start a new business. However, considering the time needed to prepare it and the low reliability of the forecasts on which it is built, we can doubt its usefulness for the entrepreneur. This working paper presents the exchanges that took place during a roundtable discussion on the usefulness of the business plan. Several speakers from the academic and professional communities discussed the definition of the business plan, its form and its usefulness.

Keywords: business plan, new venture, entrepreneurship