IMPLEMENTATION ANALYSIS OF THE BUSINESS PLANNING IN ENTREPRENEURIAL SMALL AND MEDIUM-SIZED BUSINESS IN BULGARIA

Abstract

This article analyses the implementation of business planning in entrepreneurial small and medium-sized business in Bulgaria. It presents the opinion of various authors on the need to develop business plans, including strategic business plans, their importance, purpose and elements. Based on the survey results, conclusions were made about the implementation of business planning in the business activities of small and medium-sized enterprises in Bulgaria. The profile of the surveyed enterprises is presented and the obtained results related to the planning process are analyzed - implementation of the business planning, types of used plans and strategies, realization of preliminary researches and analyzes of the environment and development of forecasts. The implementation of planning in the activities of the surveyed companies is due to entrepreneurial initiative and activity in decision-making to start and manage their own business. The conclusion is that the entrepreneurial small and medium-sized business will achieve higher efficiency only if it is guided by a written business plan that shows its goals and the means to achieve them.