Training and learning as drivers of US microenterprise business plan quality

Abstract

This study examined the output quality of a US microenterprise training program created to help entrepreneurs develop business plans for their ventures. The program concludes with the entrepreneurs' plans being scored by a panel of experts. Hypotheses were developed and tested to determine the importance of feedback, key components of business plan scores, and differences between teams and solo entrepreneurs. Timely feedback on business plan homework was the most significant driver of business plan quality, contributing to higher scores on the written plan and on the plan's presentation to the expert panel. Plans developed by teams also scored higher than those prepared by solo entrepreneurs.

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