Shoud a Business Plan be Created by a Consultant, Accountant or Other Professional

Yes and no. In most cases, a business plan should be professionally created for all but the smallest and most basic businesses if the original primary purpose is to convince lenders or investors to make funds available. But - the raw data should be created by the business owner only. There are 2 reasons for this:

1) The business owner should know his/her business better than any professional in the business plan arena. It is their business and, if they are unsure of some of its elements, they will be experts after they expend the sometimes heart-wrenching effort it takes to create the raw data for a business plan.

2) By spending the time necessary to assemble, research and compile the information needed, the business owner develops a much better understanding of his/her business, a new depth of knowledge the owner will most likely need in the future as roadblocks and problems appear.

After the raw data is assembled, a professional should be hired to prepare the final product. They deal with lenders and investors as a regular part of their business and, if experienced, know what lenders and/or investors want to see.