{"id":1746,"date":"2007-04-04T12:07:00","date_gmt":"2007-04-04T12:07:00","guid":{"rendered":"http:\/\/startups.co.uk\/?p=1746"},"modified":"2021-05-12T08:13:21","modified_gmt":"2021-05-12T07:13:21","slug":"lack-of-business-planning-putting-companies-at-risk","status":"publish","type":"post","link":"https:\/\/startups.co.uk\/news\/lack-of-business-planning-putting-companies-at-risk\/","title":{"rendered":"Lack of business planning putting companies at risk"},"content":{"rendered":"\n<p><font class=\"stdleadertext\">More than half of UK businesses are putting their future at risk by not having a written business plan, it has been claimed.<\/font><\/p>\n<p>According to a new survey by accountancy firm PKF, 46% of companies have a strategy but have not formally written it down, and 9% of firms have no business plan at all.<\/p>\n<p>A quarter of companies with no business plan said &lsquo;the owner makes the decisions&rsquo;. The second most popular excuse was &lsquo;not having time&rsquo; to formulate a plan, with 17%.<\/p>\n<p>However, despite the lack of business planning, 65% of the companies interviewed said they were projecting growth of up to 25% in 2007.<\/p>\n<p>&ldquo;The research findings suggest that businesses are riding the wave of relative economic prosperity in the UK but many appear to be forgetting some business basics,&rdquo; said Mark Lister, PKF corporate finance partner.<\/p>\n<p>&ldquo;Businesses need to balance their drive for growth with ensuring that strategies for tackling tougher times are in place.<\/p>\n<p>&ldquo;Recent interest rate rises should sound a warning that favourable economic conditions should not be taken for granted; managing directors need to plan for the future so that their businesses are capable of surviving and thriving during leaner periods too.&rdquo;<\/p>\n<p>Lister said that while it is not impossible to succeed without proper business planning, the most effective companies were the ones aware of the opportunities and threats in the marketplace.<\/p>\n<p>&copy; Crimson Business Ltd. 2007<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>More than half of UK businesses are putting their future at risk by not having a written business plan, it has been claimed. According to a new survey by accountancy firm PKF, 46% of companies have a strategy but have not formally written it down, and 9% of firms have no business plan at all. [&hellip;]<\/p>\n","protected":false},"author":91468,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3008],"tags":[],"acf":[],"yoast_head":"\n<title>Lack of business planning putting companies at risk - Startups.co.uk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/startups.co.uk\/news\/lack-of-business-planning-putting-companies-at-risk\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lack of business planning putting companies at risk - Startups.co.uk\" \/>\n<meta property=\"og:description\" content=\"More than half of UK businesses are putting their future at risk by not having a written business plan, it has been claimed. According to a new survey by accountancy firm PKF, 46% of companies have a strategy but have not formally written it down, and 9% of firms have no business plan at all. 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