The head of a leading firm of Shropshire business improvement and development consultants is urging bosses right across the Midlands region to start planning now for the New Year if they want to avoid being one of the 10,000 plus businesses reported by the Department of Trade & Industry to fail in the UK each year.

Mark Harris, an accomplished entrepreneur in his own right, who set up The Business Company to help other businesses to survive and grow after achieving 11th place in the Inner City 100 Register of fastest growing companies, believes planning is critical to success. 

"Businesses need to develop an annual strategy," he says, "that focuses on what needs to be done each year and when. A root to tip review of performance during the previous year's trading will identify where achievements have matched forecast projections and where problems areas have arisen that need addressing."

"Based on this and a review of the market it is vital that businesses then set themselves realistic financial and non-financial objectives. If their goals are beyond reach, both they and their teams will lose motivation, inspiration and focus. They need to create sustainable and pragmatic solutions that are manageable and develop tactical plans to achieve strategic objectives which will support and preserve the business value and see them increase profitability and, if desired, maximise future sale potential."