Most small businesses fail within the first five years of operation. This is usually due to poor planning rather than a bad business concept. The best way to prevent this is by completing a fully operational business plan for a period of three to five years that includes adequate working capital to carry your operations for twelve months. A fully functional business plan consist of a number of plans, documents, and activities such as but not limited to start-up resource requirements, implementation schedule, marketing research and plans.
Having a business plan can help Posted on February 26, 2013, by Administrator