“Planning†has been defined as “the establishment of objectives, and the formulation, evaluation and selection of polices, strategies, tactics and action required to achieve them. Business planning comprises long term/strategic planning and short-term operational planning. The processes of planning and control are inter-related. Although it is possible to define each separately e.g. planning as the setting of standards and control as the appraisal of actual against standards, often it is the same people who carry out both activities and so it is best to consider both together. In the context of business decisions, many business writers have sought to classify the planning and control process
If proper steps to establish and build an excellent credit history have not been taken, applicants for small business financing are in for a rude awakening. Unlike what many people think, it is not an easy process to obtain the business financing and capital most small businesses need. There are specific steps a small business, or individual, must take in order to have a realistic chance at gaining approval for an application of credit or financing
The importance of a good planning is tantamount to a resulting good financing. It is at this stage that most businesses go wrong and must be properly well set from origin..
