Relevance of the traditional business plan in the investment decisions made by venture capitalists for entrepreneurs has recently been a subject of debate. Some people view business plans to be a main input in the decision making process of investors. Others see business plans as having limited prominence, having been replaced by other means of inspiring confidence in potential investors. This study is designed to empirically investigate the relevance of a business plan in today's fast-paced and dynamic environment. Data was collected from 150 investor capitalist firms from around the world through an on-line survey. Data was analyzed and results are provided. A discussion is also presented.
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Ashamalla et al. (2008) studied this question.
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