You need a business plan because the majority of venture capitalists (VCs) and all banking institutions will not invest in a startup or small business without a solid, written plan. Not only does a business plan help you focus on concrete objectives, but it gives outside parties reassurance that you’ve planned ahead.According to research:Businesses with a business plan grow 30% faster than those withoutOwners with business plans are 2x as likely to grow, get investments, or secure loans than those withoutEntrepreneurs with a business plan have a 129% increased likelihood of growing beyond the startup phase and a 260% increased likelihood of growing from “idea” to “new business”