Formal business planning and small businesses: a survey of small businesses with an international focus in Atlanta

摘要

This study examined the extent to which small businesses, with an international focus, are employing formaI business planning techniques and the extent to which such techniques contribute to the success of these businesses. The study was based on the hypothesis that small business success is associated with formal business planning. Indicators of both formal business planning, the independent variable, and small business success, the dependent variable, were developed.Survey research was conducted to generate and analyze data gathered from one hundred business owners/operators of small businesses, with an international focus, located within the Atlanta Metropolitan Statistical Area (MSA). A five-page questionnaire was developed and a survey analysis grid was designed. The researcher found that those businesses practicing formal business planning techniques were more successful than those not employing them. The conclusions drawn from these findings suggest that formal business planning contributes to the success of small businesses with an international focus.