Almost 70% of small businesses fail within the first 5 years of establishment. Reasons for this include lack of management or technological expertise, account keeping skills, cash flow or forced out through competition. Without essential planning and the correct procedures put in place to execute these plans it can be said that businesses do not plan to fail, yet fail to plan. Planning maximizes the potential for success and extends the aptitude to which a business can …showed first 75 words of 1526 total…

…showed last 75 words of 1526 total…These, along with the outlined procedures of business goals, knowledge of entities, close observation during different phases of business and the comprehension of the keys to business success, if all included within the business plan more or less guarantees the success of a business. In all activities, it must be kept in mind that anything is possible yet if correct planning is undergone owners are well on their way to doing all that they can.