Most consultants recommend a written business plan to help a business succeed.
The banks want to see one, and the SBA requires one for a loan. Nancy Staton more Staton columns Most of my clients complete a business plan only after being coerced by the bank or me. Whether this is true or not, I do not know. I do know that completing a written business plan and using it increases the chances of succeeding. Many business owners fail to follow the written business plan even if they compile one.