Business plan – a business “must have”?

Abstract

The business plan is seen as a complex structured document, which provides logical and factual answers to individual questions about the business. These questions are key to a successful start-up and implementation of longterm business activities. However, there has been a growing opinion in recent years, that a business plan is an inapropriatte tool considering the turbulent environment of nowadays. The aim of our studies is to identify the extent of use of a business plan as an important planning document in SMEs. There are many business owners who do not have a business plan and pay little attention to their planning activities. To better understand how the Slovak entrepreneurs perceive planning, we conducted a questionnaire survey. This reveals very interesting findings about the attitudes of Slovak businessmen to planning and planning documents. Survey results and recommendations are key parts of our article.