Adrian Flores October 28, 2019

Jhamila Calawa

Poor Business Plan

SME’s are seen as a crucial part of a country’s economic growth, employment, creation, and
innovation. Their lack of access to financing has often been cited as one of the major constraints
affecting their performance and competitiveness. This implies that SME’s cannot obtain financing
from banks and other sources in order to start, innovate, grow and develop their enterprises which
can affect how an enterprise will come up with a business plan that can help the business have a
stable start up. A business plan is a guide, a road map, and a blueprint. It is a written document that
outlines that goals, objectives, strategies, and tactics of a business that can be used to achieve the
objectives of a business over a period of time. A business plan is a step by step guide that helps
clarify your business idea, spot the potential problems concerning your business, set your goals, and
measure your progress.
However, if an enterprise has a poor business plan it can affect how the business or enterprise
would operate. A poor business plan leads to inadequate operations, unexpected occurrence of
problems, and poor execution of ht proper way to do things around the enterprise. It can cause a
business to go to debt wherein if an enterprise keeps financing on projects that do not succeed it can
cause the enterprise to owe more than its profits. Another is that a poor business plan can also cause
marketing and product management.

Here are some ways to help SME’s have a better business plan:

 One is to get advice from professionals who can help evaluate the business plan of an
enterprise. It is because getting help from professionals can improve your business plan where
in professionals can spot your mistakes and give you advice that can help enterprises or
businesses improve.

 Another way is through pre-planning and creating contingency plans. This can help businesses
be well-prepared of their operations and the things that can and may go wrong that is not part
of the plan.

In conclusion having a well thought of business plan will help the business in its operations and on
its start up throughout the entire time the business will operate. Thus, if updated yearly it will help the
business avoid trouble and it will help the business increase its success. An effective business plan
will depend on how the owner or manager of the business or enterprise will create a concept of it on
how he or she will apply that concept.