ABSTRACT

The study investigates the effect of business plan on entrepreneurship business in Benin City, Edo State. A sample of 286 copies of questionnaire was distributed to online and in hard copies to SME owners in Benin City, Edo state. The result from this study shows that there is a positive and significant effect of business plan on entrepreneurship business. The study revealed that business plans has a significant impact on entrepreneurship business. It also shows that there was significant effect business plan on SME strategic growth and direction. Lastly, the result shows that SME businesses without business plans found it difficult to operate as they had difficulty in access to loans and investors investments. In conclusion, a well-structured business plan plays a pivotal role in the success of small businesses in Nigeria. It provides a clear strategic direction, helps with financial management and attracting investment, and assists in mitigating risks. The study recommends that Government and business support organizations should promote and provide training and resources to educate small business owners in Nigeria on the importance of creating and implementing effective business plans. Also financial institutions and government agencies should consider offering preferential financing options to small businesses that have well-developed business plans. This can encourage more entrepreneurs to create comprehensive plans and access the capital they need.