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You are planning to open a new business of your choice in a competitive business environment. Draw up a comprehensive business plan that is practical to ensure that your business not only survive but make a lucrative profit. You are required to justify the following aspects in your Business plan: 2.1 The importance and reasons for developing a business plan. 2.2 The steps or layout of developing a business plan. 2.3 Explain some of the long term and short term benefits of creating a business plan
I need basic explanations
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