Lutfun Nahar Chowdhury; Prakash Lamichhane; Anisha Rijal , pp. 66. MAM/Sektionen för Management, 2010.
Objective: The objective of this study is to identify the role of business planning in SMEs. Attempts were made to figure out why the business planning is used and in what extent the planning are used by the entrepreneurs. In such case, studies were made to find whether the entrepreneurs use the business plan to achieve higher performance in their business or not. We assumed that a well developed plan leads to convenient access to finance and thereby improving the performance through various measures
Methodology: In order to carry on the research, different literature and articles have been read extensively to structure the theoretical framework. To test our objective we have extensively studied literatures, journals and articles along with carrying out a telephone interview on a short number of specific questions.
Conclusion: The analysis and conclusion were based on the literatures and the interviews. We relied on a response of 8 SMEs between one to five years old to test our hypothesis. We were able to see the positive relationship between business planning and bank finance. But the data doesn‟t reveal that planning had any significantly direct relation with improving the performance of the business but it does have positive benefits. The findings of this research gives the idea that a business plan is useful in other context besides attracting finance like as a guide, for increasing management efficiency. The respondent also supported those facts but could not provide any significant evidence to their assumptions. Lastly, based on the outcome of the study some recommendations were offered to the prospective entrepreneurs and interest people.