State four reasons why Chanda should prepare a business plan before starting her business-

Here are the answers to your questions:

1. A business plan is a formal document that outlines a business's goals, strategies, and how it plans to achieve them. It typically includes details about the business's products or services, market analysis, financial projections, and operational plans.

2. Four reasons why Chanda should prepare a business plan before starting her business are:

   • It helps her clarify her vision and goals for the business, providing a clear roadmap.
   • It allows her to identify potential challenges and opportunities in the market, enabling proactive planning.
   • It is essential for securing funding from investors or lenders, as they require a detailed plan.
   • It helps her manage resources effectively by outlining financial needs and operational strategies.