In the dynamic and challenging environment SME businesses face, having a well-thought-out business plan isn’t just a formality—it’s the cornerstone of success. A strong business plan drives business accountability, aligns stakeholders, and provides a clear path to achieving your goals. Yet, many small businesses either neglect this vital document or fail to revisit it once it’s written. This oversight can lead to missed opportunities, misaligned priorities, reduced profitability or worse; business failure.
This article outlines the benefits of having a business plan, highlights the key elements of strategic planning, and explores the essential role of a Non-Executive Director (NED) in driving SME success.
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