Entrepreneurship Questions: Each response should be 200-250 content words and include citations and references.

1. Define Business Plan. What are the three essential reasons to prepare a business plan?

2. Explain the spiderweb business model.

3. Why is bootstrapping important for (a) closely held companies and (b) early-stage, high-growth companies seeking equity investors?

4. Identify three similarities and three differences between a franchise and a license.