In today's highly competitive and ever-changing market conditions, it is vital for businesses to define their objectives, develop strategies, forecast growth and plan for contingencies. In other words, create a solid business plan.

So what is a business plan and why is it useful for SMEs?

A business plan outlines the roadmap to achieve both long and short term business objectives. This document also states a company's vision, mission and financial goals. A plan helps to not only sharpen business focus and prioritize actions, but also gauge actual performance against business goals.

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