One in ten SMEs use ‘post-it planning’
At a time when some smaller firms struggle to achieve significant growth, independent research from One Poll has revealed that one in ten British small and medium-sized companies (SMEs) rely on writing their long-term financial planning on post-it notes.
Wednesday, 06 Jan 2016 09:46 GMT
Research from One Poll has revealed one in ten small businesses jot down their financial planning on Post-it notes
The research found ‘post-it note planning’ was the favoured option of a third of hospitality and events companies such as fast food restaurants, cafes, bars, and nightclubs. A quarter of smaller transport and logistics companies also relied on improved plans.
Looking to give the country’s smaller businesses a boost, gas and electricity supplier Npower Business wants to teach them the value of proper financial planning. For example, businesses must include the price of heating, lighting, and fuel in their costings, a factor that is sometimes forgotten.
We want to encourage small businesses to factor in accurate energy costs when they are tackling their business planning”
“Our aim is to raise awareness of just how important having a proper business plan in place and working to it actually is,” explains Phil Scholes, head of Npower Business, adding: “Clearly it has to be flexible, but there has to be some properly thought-through structure.
“We want to encourage small businesses to factor in accurate energy costs when they are tackling their business planning.
"From fixed tariffs to free-of-charge smart meters to advice from our own energy experts, there are a number of options available which eliminate the need to guess-timate predicted energy outlay. Small businesses are the lifeblood of this country and assistance with better and more accurate planning can only benefit the wider economy.”
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