Abstract

This study investigated the usefulness of business plans to small, micro and medium enterprises (SMMEs) in the Eastern Cape Province of South Africa. The objective of the study was to determine the usefulness of a business plan. A questionnaire was used to gather data from respondents. Simple random sampling technique was used. Data was also collected through interviewing representatives from financial banks. Data was analysed using descriptive statistics. Findings of this research showed that a business plan is important for all SMMEs. Recommendations are provided for SMMEs, banks, the government and government agencies.

Key words: Small, medium and micro enterprises (SMMEs), business plan, finance, bank, usefulness.