Rethinking Strategic Planning for Small Business

When small business owners hear the words “strategic planning”, it can sometimes feel like something reserved for big corporates with endless resources and whole departments to run it. But, in our economy, where small family-run businesses are the backbone of our economy, strategy is a critical pillar to success, and can’t be left on the sidelines.

The truth is: every business deserves a strategy that fits its size, context, and ambitions. And right now, with WA’s economy shifting and diversifying, there’s never been a better time for SME’s to review their approach to prioritising strategy.

Why Strategic Planning hasn’t always worked in Small Business settings

More often than not, strategic planning has been seen as:

• Overcomplicated and weighed down by jargon

• Written once and never used

• Focus on “The document” instead of practical actions.

That’s why many smaller businesses have chosen to run on instinct and adaptability instead – and that’s worked for a long time. But as we continue to grow and diversify, there’s an opportunity to take the best of that instinct and match it with clarity.

WA Small Businesses: Growth, Grit & Geographic Reach

Small business isn’t just a buzz word in WA – it’s the backbone. They make up a staggering 97% of all businesses in Western Australia, with nearly 239,000 small businesses statewide – that’s 9% of all Australian small businesses operating within the state.

Around 80% of these are in Greater Perth, but the rest are spread across vibrant regional hubs – from Albany and Bunbury to the Wheatbelt, Margaret River, and the Mid-West – demonstrating widespread entrepreneurial spirit.

What’s more, WA’s small business ecosystem is growing. In FY2023/24, 40,900 new business opened (and 32,650 closed) – meaning net growth is among the highest of any state, and a good sign of resilience and adaptability across our economic landscape.

Despite strong foundations, SME’s in Western Australia face real challenges – most notably around profitability, even more than cash flow – pointing to the need for sharper strategy and operational clarity.

And the signals are positive: the WA Government is actively supporting through measures like Small Business Growth Grants, offering businesses up to $10,000 in matched investment for capability building – from systems to supply chain enhancements.

Rethinking Strategic Planning for SME’s: A Lighter, Smarter Approach

For small businesses in WA, strategic planning doesn’t need to be heavy or corporate. Instead, it should focus on four simple principles like below:

• Simple: a one-page plan can be more powerful than a 50-page report.

• Practical: a tool that guides day-to-day decisions, not just big visions.

• Flexible: updated as markets, industries, and customer needs shift.

• Empowering: something the whole team understands and rallies behind.

At its heart, strategy is about clarity:

• Where are we heading?

• What might get in our way?

• What matters most right now?

Why this matters in Perth and across Western Australia

SME’s in WA face a unique set of challenges: geographic spread, industries shaped by global cycles, and fast-moving local labour markets. That’s why our small businesses need strategic planning that’s designed in WA, for WA – not imported frameworks from interstate, or overseas.

When done well, strategic planning for WA small businesses is less about complexity and more about confidence.

Our Approach to SME’s

At M Vision Collective, we believe SME’s don’t need cookie-cutter strategies. They need clarity that fits their reality.

That’s why we help SME’s in Perth and Western Australian to:

• Focus on what drives growth, not what looks good in a report.

• Connect strategy with people and culture, so teams know exactly how they fit in.

• Build living, breathing plans that evolve with the business, instead of gathering dust.

Final Thought: Small Steps, Big Impact

Strategic planning doesn’t have to be intimidating. Done right, it’s a practical tool for clarity, momentum, and resilience.

And for SME’s in WA – which already carry the strengths of adaptability, agility, loyalty and grit – rethinking strategy is less about change for change’s sake, and more about making sure every decision builds towards a stronger future.

If your business is ready to rethink strategic planning in a way that’s clear, practical, and made for WA – let’s talk.