Mazars Malta, a member firm of international audit and advisory group Mazars, recently organised the second of its 2016 series of information sessions branded ‘Made Simple, by Mazars’.

The objective of these sessions is to make it possible and convenient for end-customers to receive practical information by professionals, particularly from a fiscal, financial and regulatory perspective, which can help them make the right decisions for their business and for their own personal well-being. This initiative is in line with Mazars Malta’s business advisory mission, and its reputation as a provider of personal services and quality advice.

The second session was entitled ‘Business planning: A strategic perspective’. The ‘Made Simple’ workshops are being delivered by experts from within Mazars’ management team, and, as is the norm with these sessions, this event also took a hands-on approach. Apart from discussing the importance and utilisation of business planning tools and methodologies, directors and executives of owner-managed businesses were taken through the process of how to develop a business plan, keeping in mind practical considerations and common issues.

Mazars Malta partner Alan Craig said: “Irrespective of the size of one’s enterprise, and whether a company’s business lifecycle is at the start-up, growth or maturity stage, business planning is an essential strategic tool that successful firms employ. Business plans should be clear in terms of desired objectives, well thought out, measureable, and properly communicated.”

He added: “Done properly, business plans will increase both value and profitability by setting direction and goal congruence, while serving as a yardstick to measure performance.”