The objective of this study was to identify the role of business planning in SMEs. Attempts were made to figure out why the business planning is used and to what extent the plannings are used by the entrepreneurs. In such case, studies were made to find whether the entrepreneurs use the business plan to achieve higher performance in their business or not. In the beginning hypothesis was made that a well developed plan leads to convenient access to finance and thereby improving the performance through various measures. To test the objective the authors extensively studied literature, journals...