
The figures are taken from the latest Close Brothers Business Barometer ? a quarterly survey by Close Brothers Asset Finance exploring the opinions of business owners from SMEs.?
Over 700 respondents took part across a range of industries, and of those who admitted they didn’t have a business plan 43 per cent said they didn’t feel it was necessary. A fifth preferred to keep plans in their head, while a further 15 per cent admitted it just wasn’t on their list of priorities. Mike Randall, CEO of Close Brothers Asset Finance, said: ?It’s concerning that so many small and medium-sized firms do not have a business plan. Without clear direction, they may be missing out on opportunities for growth and not realising their full potential.? He suggested that those who weren’t prioritising it or “didn’t feel it was necessary” should rethink their approach. ?Planning is key to any business throughout its lifecycle. A formal plan can be an extremely valuable tool for managing and growing a business, as it allows a company to recognise its strengths and weaknesses,? Randall explained. Read more on business advice:- Tips on raising investment from angels and high-net worths
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