Business Plan Development of Small Business in Catering

Development an appropriate business strategy is a vital part for achieving success in business. Choosing an effective strategy allows company maintaining a stable competitive advantage, improve financial indicators and find new field for development. For small businesses, a business plan is especially important, because they have limited resources to fix those difficult situations which arose from previous mistakes. Therefore, in order to avoid the business collapse, they must carefully work out their business plans. The process of developing a business plan helps the entrepreneur (manager) to respond on three important questions: where is he now, where does he want to go and how can he achieve his goal? Foreign studies showed that the activities of firms engaged in strategic planning were more effective than those who did not do this. Small and medium-sized companies today are forced to develop business plan in order to survive. Recent study claims that successful enterprises really practice strategic planning and use the strategic approach. So, aim of this study is to develop business plan for the company “Stary mawister” working in catering sphere. In this research I will employ quantitative methods to assess financial indicators of the company and develop marketing strategy. Investigation of all external and internal factors affecting the company performance will help to develop a set of recommendations for further evolvement.