Business Planning

“To fail to plan, is to plan to fail”

Business Planning with TfE

Without a solid plan for the business you want to set up, you are leaving yourself open to chance. You wouldn’t go on holiday, or even on a night out, without some kind of plan in place.

So why do something as important and potentially risky as starting a business, without first making a robust business plan?

In May 2015, alternative lender Just Cash Flow PLC carried out a survey of 250 small business owners.

Key points

• 80% of those business owners admitted that when they started up in business they didn’t know everything they needed to.
• 63% of those surveyed said that fewer businesses would fail if owners had more knowledge before setting up.
• Importantly, 29% of those surveyed wished they had known more about business planning.