Business Plan Statistics: What You Need to Know to Create a Winning Plan [Video]

Knowing the worth of a well-structured business plan might cause you some bother. You’re not on your own there. We’ve trodden down that path to explore whether planning genuinely influences success and discovered some astonishing truths: businesses armed with a strategic plan are 152% more likely to flourish.

In this article, we will unfurl compelling statistics that strongly endorse the significance of owning an all-encompassing business strategy. Let’s get started.

A business plan is crucial as it increases the chances of growth, provides a long-term strategy, doubles the success ratio of organisations, sets priorities and creates focus, helps with delegation and communication, and drives better target achievement. Let’s break down each point.

Increased Chance of Growth

A business plan is a magic pill for your company’s growth. It boosts the chances of your company getting bigger and better 71% of fast-growing companies do have plans.

These plans are like roadmaps to success. They keep you on track and guide you step …