News & views: Best Advice Often Ignored by Small BusinessesThe following item could be of interest to our SME members. Despite the best advice of business support agencies, accountants, banks and successful directors, almost half of the UK's small businesses put their futures at risk by not following an up-to-date business plan.
Poor management and financial planning are often cited as the main reasons why small businesses fail, both of which are the main benefits of an updated and comprehensive business plan. However, a survey by Croner, the UK's leading provider of business information, advice and support, has shown that business plans are often ignored. The 1,500 owner managers and directors registered on Croner's free small business web portal www.smallbusiness-centre.net, were asked: