At Smith, Sykes, Leeper & Tunstall LLP, we believe that in order for a business to be successful, it must have a well-developed business plan with clearly defined objectives.
The preparation of a business plan has many benefits, especially for small and medium-sized businesses. With the aid of a business plan, management is able to:
- Obtain a clear picture of the business at the present time and plan for the future
- Present appropriate solutions to problems and challenges
- Anticipate future funding requirements
- Hedge against unexpected changes and disruptions
The business plan should cover all key areas of the business. It should detail products and services, markets and marketing strategies, personnel and management, as well as financial projections. Finally, the plan should conclude with an action plan and a method of monitoring its success.
To ensure that the defined objectives are being achieved, the business plan should be regularly reviewed and updated.
We at Smith, Sykes, Leeper & Tunstall LLP can provide you with the tools necessary to meet all of your business planning requirements.