How important is business knowledge when starting up a new business?

NeedHelp: How important is business knowledge when starting up a new business?
I need to know this for school work and I can’t find the answer anywhere.
Could you suggest some websites or any place where I can fine out how important general business knowledge is for start ups and successful businesses.

Answers and Views:

Answer by Henry
sba.gov
score.org

Answer by vickypoo
actually to be truthful…most business owners that open up a business don’t have knowledge of business…..about 75% of the business’s that open for the first time are first time business men or women

Answer by Jomari
You should at least have an idea about business world so that you wouldn’t be scam or be fooled. When it comes to business, money is the focus for you to want to earn so better have an idea on it.

Answer by gowebsolution
a very good place can be business.com and also your public library. You must know about Marketing, Sells, and organization strategy to proceed. Every business is different, so learn to adapt whatever you are reading with your business reality.

Answer by Faseo D
In the following forum post, you will definitely find the complete answer for your home work

Business knowledge comes at number 1 position instead of big money to invest, so one must have it before the start up.

Answer by Trade Guy
You can find several business information resources online to startup a new business. For this you can browse some business resources like Indiamart.com, clickindia.com and their news section as well for latest updates and business success stories.