Why Having a Business Plan Is Crucial for MSME in India
                     Why Having a 
Business Plan 
Is Crucial for 
MSME in 
India?
What is a 
Business Plan?
A business plan acts as a layout 
to set up and grow your business 
by giving it the framework and 
direction it needs but not every 
small business owner feels the 
need to have a plan for their 
business, believing it uses 
unnecessary time and resources 
to build business plans.
Benefits of 
Having a 
Business Plan
• It promotes growth
• It reduces risk
• Help with loans and 
investments
• Make better investment 
decision
• Identify problems early on 
It Promotes 
Growth 
Everyone knows how hard it is 
to grow a small business. 
However, studies show that you 
can increase your company by 
about 30% faster if you have a 
good business plan. Having a 
plan means you have set goals 
and pathways to reach them. Y
It Reduces Risk 
It is always a risk to run a small business. 
However, there is a certain level of 
forecasting the future and ensuring that 
you are prepared for unfavorable 
business conditions with planning. One 
such very popular platform that provides 
useful information is CreditQ. If you 
know the business credit score of firm 
you are planning to deal with then it 
considerably reduces the risk and results 
in smooth transaction.  
Help With 
Loans and 
Investments 
If you are looking for some 
external capital, you need a 
business plan to show your 
investors and lenders what 
your business plans to do 
with the money and how it is 
valuable and profitable in the 
long haul.
Make Better 
Investment Decision 
Having a proper business plan helps 
in getting money and spending it 
wisely. Whether you want to expand 
your business or increase your team 
strength, you won’t have to worry 
about managing the additional costs. 
You have a plan that tells you the 
source and profitability of the 
venture, giving you the confidence to 
make better decisions.
Identify Problems 
Early on 
Another essential benefit of 
having a business plan is 
identifying any financial, 
administrative, or marketing 
and sales problem in your 
business early on. You rectify the 
mistake quickly as you know 
what a supposed to happen 
according to your plans and 
where things went wrong.
Thank You
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