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News - 11 April 2014

Lack of planning hitting SME profits

According to a recent survey conducted by Exact, SMEs are losing out by failing to put a business plan in place.

Lavinia Newman, Founder of ABDS and a business strategist comments:
“Of the 453 SMEs surveyed, 70% of those with plans made a profit, while profits were attained by 52% of those without a business plan. The average annual profit before tax was £2.8m. A third failed to put a plan in place for the year, with two-thirds of those suggesting they didn't see the need for a plan.”

Lucy Fox, general manager for Exact, said: "The findings clearly show there are many SMEs who are missing out on the added value a business plan can offer, the consequence being that many may be failing to reach their full growth and business potential as a result.”

Lavinia continues:
“These results should serve as a wake up call for all SMEs. There are a lot of misconceptions over what is involved in the planning process. Many don't seem to realise that with the help of a trusted financial advisor, such as ABDS, creating a plan can be done easily and the benefits can be enormous."

If you need any help and advice on Business Financial Planning and Development, don’t hesitate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your Business planning.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients
Mindful of our client’s long term strategic goals

Helping Your Business is Our Business

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