Planning in small businesses has been the subject of considerable research. Virtually every issue of the Strategic Management Journal contains at least one article dedicated to that subject. Numerous researchers have found that planning activities improve organizational pedormance (i.e., [17J, [22J, [15J, [26J, [27], [28]), but there is not uniform agreement in support of this conclusion (i.e. [5], [8], [18], [3]). Neither can scholars agree as to how organizational performance should be measured [19]. Furthermore, unanimity of thought does not exist on how strategic planning takes place in a small business [24J. Rhyne [16] presents an excellent overview of the studies on planning and performance, pointing out inconsistencies and suggesting that the diversity of findings may result from omission of planning characteristics. Despite the controversy, one thing that most scholars have in common is a recognition that vast numbers of small firms do not plan at all! A number of studies have dealt with this problem (i.e. [7], [20], [4]).