The Business Bulletin
SME Survey Is having a business plan important?
I remember an insolvency practitioner once telling me that 7 out of 10 of
The responses were as follows:
to put a bit more meat on the bones and create something a little more
the clients he dealt with didn’t have a
■ I don't need one x 4
business plan. I guess you could argue
■ Nothing - I'm working on it x 3
the plan into the separate “pillars”
■ Time to write one x 3
to establish the overall intent and
that statistic alone would suggest that having a plan in place is important? In this survey (47 respondents), 87.2% thought it was important to have a business plan (which is good news). However 1 in 10 felt that it wasn’t important. Unfortunately the survey didn’t ask a supplemental
■ Knowing how to write one x 2
the only way forward in any business,
Whilst I am sure there are have survived without a business plan,
for a future survey?
I think the consensus is that having
something in place; still leaving
Whatever option you take, and
■ Can't afford to outsource it x 1
successful businesses out there that
this instance, 68.1% said they had
direction for a business. often what is missing in most plans,
wasn’t important – may be a question
“Do you have a business plan?” In
of business; looking at each in turn
■ It's not important x 1
question as to why those people felt it
The next question was actually
comprehensive that breaks down
a written plan for your business can
is to take action in line with what you want to achieve. Business plan in place or not – good luck with the success of your business.
only enhance rather than hinder your business. A business plan does not have to
around a third that didn’t. Fortunately,
be complex, in its simplest form it
a supplemental question was asked in
can be a list of goals that you what to
this case as to what got in the way of
achieve over the next 12 months for
putting a plan together.
example. Some businesses may prefer
Get involved To take part in the next survey – How important is social media to your business? – visit here: https://forms.gle/ JSBaqqjgoJJNDhC3A. The results will be shared in the next edition of this magazine.
Do you think having a business plan is important?
46 | Issue 12 – Strategy and Personal Development
Do you have a business plan?
