This study investigates the value of business planning for starters, based on survey research of 283 Flemish starters. First, the quality of the business plan was perceived higher by starters, who consulted an accountant during the planning stage. The results show that the business advice of the accountant supports entrepreneurs in the preparation stage and in anticipating “the unexpected”. Second, the starters differed in terms of their view on the value of the business plan, finding support for the 4 types of motivation from the self-determination theory (SDT). For instance, some entrepreneurs made a business plan because it is legally required (external motivation), whereas others developed the business plan because they knew it is important to reflect upfront (introjected motivation). The results show that entrepreneurs, scoring high on introjected and identified motivation developed a high-quality business plan, which also increased their effectiveness in taking management decisions in the early years after the official launch of the company.
De Bruyckere Stefanie & Everaert Patricia, 2021, The Role of the External Accountant in Business Planning for Starters: Perspective of the Self-Determination Theory? Sustainability, 13, 3014. https://doi.org/10.3390/su13063014