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.

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