Workwise: Why every small business needs a business plan

Small business owners are busy and time poor, and many struggle to allocate time and attention to their business plan. Some might even wonder whether there’s any value in having a thorough business plan.

But, as the adage goes, fail to plan and plan to fail. A business plan is a strategic map for growth and success. It’s a working document which should be updated as your business evolves, and financial planner Michael Abrahamson explains why every small business should focus on developing an up to date business plan.