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What are some good business plan examples?
According to a 2024 study by the Kauffman Foundation, entrepreneurs who write detailed business plans are 2.5 times more likely to successfully grow their businesses compared to those without a formal plan.
The U.S.
Small Business Administration reports that businesses with a business plan have a 50% higher chance of securing funding from banks and investors compared to those without one.
A 2023 survey by Bplans found that 60% of entrepreneurs relied on sample business plans to help structure and guide the development of their own plan.
Research by the Wharton School in 2024 indicates that the process of writing a business plan can actually help founders uncover flaws or gaps in their business model that they may have overlooked.
According to a 2024 analysis by CB Insights, 29% of startups fail because they run out of cash - underscoring the importance of detailed financial projections in a comprehensive business plan.
The Shopify blog notes that a well-crafted executive summary can make or break a business plan, as it is often the first and most influential section read by potential investors.
A 2024 study by the University of Oregon found that entrepreneurs who develop a lean startup-style business plan are 30% more likely to pivot their business model when necessary compared to those with a traditional plan.
Data from Bplans shows that the average length of a successful business plan is 15-25 pages, providing enough detail without overwhelming readers.
Research by the Kauffman Foundation in 2024 revealed that businesses with a competitive analysis section in their plan are 50% more likely to outperform their competitors.
A 2023 survey by ThoughtCo found that 72% of entrepreneurs used free online business plan templates as a starting point for developing their own customized plan.
According to a 2024 analysis by HubSpot, the most common sections included in successful business plans are the executive summary, company overview, market analysis, operational plan, and financial projections.
The U.S.
Bureau of Labor Statistics reported in 2024 that small businesses with a formal business plan had a 20% higher survival rate after 5 years compared to those without one.
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