Why is it important for entrepreneurs to develop financial plans for their companies

Why is it important for entrepreneurs to develop financial plans for their companies? 2. How should a small business manager use the ratios discussed (current ratio, quick ratio, debt ratio, debt to net worth ratio, times interest earned ratio, Average inventory turnover ratio, Average collection period ratio, average payable period ratio, net sales to total assets, net profit on sales ratio, net profit to assets, net profit to equity)

Questions

Paper details:
Do not write ESSAY!!! Solely Answer the Questions below. 1. Why is it important for entrepreneurs to develop financial plans for their companies? 2. How should a small business manager use the ratios discussed (current ratio, quick ratio, debt ratio, debt to net worth ratio, times interest earned ratio, Average inventory turnover ratio, Average collection period ratio, average payable period ratio, net sales to total assets, net profit on sales ratio, net profit to assets, net profit to equity) 3. Outline the key points of the 12 ratios )listed above in question #2). What signals does each give a business owner.