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In Nigeria, many business owners seek loans and grants from organizations like the Tony Elumelu Foundation, especially during the beginning of the year. However, many face rejections due to missing a crucial element in their business plans. A business plan is a document that outlines the potential of a business to investors, shareholders, and team members. It should include an executive summary, customer market analysis, marketing strategy, financial analysis, and an exit plan. Ensuring these components are well-developed can significantly enhance the chances of securing funding.