In an era where energy infrastructure plays a crucial role in powering economies and supporting daily life, the importance of pipeline safety cannot be overstated. With increasing regulatory scrutiny and a growing emphasis on environmental sustainability, entrepreneurs are finding new opportunities in the pipeline safety sector. Starting a business focused on pipeline safety not only addresses critical industry needs but also positions you at the forefront of innovation and compliance in a vital field. In this article, we will explore the essential steps and considerations for launching a successful pipeline safety business, from understanding the regulatory landscape to identifying your target market and developing effective safety solutions. Whether you are an industry veteran or a newcomer with a passion for safety and sustainability, this guide will provide you with the foundational knowledge needed to embark on this rewarding venture.

The global pipeline safety market has experienced significant growth in recent years, driven by increasing infrastructure development, stringent regulatory requirements, and heightened awareness regarding environmental safety. As of 2023, the market is valued at approximately $XX billion and is projected to expand at a compound annual growth rate (CAGR) of XX% over the next five years. This growth is fueled by the rising demand for safe and efficient transportation of oil, gas, and other liquids through pipelines, which are essential for energy distribution worldwide. The pipeline safety sector encompasses a range of services and technologies, including monitoring and inspection systems, leak detection solutions, risk assessment services, and emergency response planning. With the ongoing investment in pipeline infrastructure, particularly in emerging economies, there is a robust opportunity for businesses to enter this market. The increasing adoption of advanced technologies such as IoT (Internet of Things), AI (Artificial Intelligence), and machine learning for predictive maintenance and real-time monitoring further enhances the market potential. Moreover, global initiatives aimed at reducing carbon emissions and transitioning to cleaner energy sources are prompting operators to ensure the integrity and safety of existing pipelines. This regulatory landscape is creating a favorable environment for pipeline safety businesses, as compliance with safety standards becomes paramount. Regions such as North America and Europe are currently leading the market, owing to their established infrastructure and stringent safety regulations. However, Asia-Pacific is expected to witness the highest growth rate, driven by rapid industrialization and urbanization. This dynamic market landscape presents numerous opportunities for entrepreneurs looking to start a pipeline safety business, especially those who can leverage innovative technologies and offer tailored solutions to meet the evolving needs of the industry.

Identifying the target market is a crucial step for any pipeline safety business, as it shapes the services offered and marketing strategies employed. The primary customers for pipeline safety businesses typically include:
1. Energy and Utility Companies: These are the largest consumers of pipeline safety services. Companies involved in the transportation of oil, natural gas, and other hazardous liquids require robust safety measures to comply with regulatory standards and to protect their assets and the environment. This market segment includes both large corporations and smaller regional operators.
2. Government Agencies: Local, state, and federal government entities are responsible for enforcing pipeline safety regulations and may require third-party inspections, audits, and compliance services. These agencies often seek partnerships with pipeline safety businesses to ensure adherence to safety protocols and to mitigate risks associated with pipeline operations.
3. Industrial Manufacturers: Industries that rely on pipeline systems for transporting raw materials or finished products, such as chemical manufacturers and food processing companies, are also significant clients. These businesses require safety assessments and risk management solutions to maintain operational integrity and prevent accidents.
4. Environmental Organizations: Non-profit organizations focused on environmental protection may seek collaboration with pipeline safety businesses to promote best practices and enhance safety standards in the industry. These partnerships can also help in advocacy efforts for stronger regulations.
5. Construction and Engineering Firms: Companies involved in the design, construction, and maintenance of pipeline infrastructure often need safety consulting services to ensure that their projects meet all safety requirements and standards. This includes risk assessments, safety training, and emergency preparedness planning.
6. Insurance Companies: Insurers that provide coverage for pipeline operations may also be a target market. They require thorough safety evaluations and risk assessments to inform their underwriting processes and to manage claims effectively.
7. Research and Educational Institutions: Universities and research organizations engaged in studying pipeline safety, environmental impact, and related technologies may seek partnerships for data collection, safety training, and knowledge-sharing initiatives. By targeting these diverse market segments, a pipeline safety business can establish a solid customer base and create tailored services that meet the unique needs of each group. Understanding the specific challenges and requirements of these clients will enable the business to position itself effectively in the marketplace and build strong, long-lasting relationships.

When considering the establishment of a pipeline safety business, understanding various business models is crucial for ensuring sustainability and profitability. The right business model will depend on your target market, the services you intend to offer, and the resources available to you. Here are several viable models to consider:
1. Consulting Services: This model involves providing expert advice to pipeline operators and companies. You could offer services such as risk assessments, safety audits, regulatory compliance consulting, and training programs. Leveraging your expertise in pipeline safety regulations and best practices can position you as a trusted advisor in the industry.
2. Training and Certification Programs: Developing and offering training programs for pipeline safety personnel can be a lucrative business model. This could include on-site training, online courses, and certification programs for various safety standards. Partnering with industry organizations to offer accredited courses can enhance your credibility and attract more clients.
3. Technology Solutions: Another approach is to create or distribute technology solutions that enhance pipeline safety. This could involve software for monitoring pipeline integrity, advanced inspection tools, or data analytics services. By focusing on innovation, you can address specific pain points in the industry and provide valuable solutions to your clients.
4. Inspection Services: Offering specialized inspection services can also be an effective business model. This may include aerial inspections using drones, ultrasonic testing, or other non-destructive testing methods to ensure pipeline integrity. Building a team of certified inspectors and investing in the latest technology can set you apart in a competitive market.
5. Maintenance and Repair Services: Providing maintenance and repair services for pipeline operators can create a steady revenue stream. This model might include emergency response services, regular maintenance checks, and repair work for damaged pipelines. Establishing contracts with pipeline companies can enhance your business's stability and predictability.
6. Partnerships and Collaborations: Forming strategic partnerships with existing pipeline companies, regulatory bodies, and other stakeholders can help expand your service offerings and enhance credibility. Collaborations can lead to joint ventures for specific projects, allowing you to leverage each partner's strengths.
7. Subscription-Based Services: Implementing a subscription model for ongoing safety monitoring, compliance updates, or access to exclusive resources can provide a steady income stream. This approach encourages long-term relationships with clients and ensures they remain engaged with your services.
8. Government Contracts: Many pipeline safety initiatives are driven by regulatory requirements and government mandates. Bidding for government contracts to provide safety assessments, training, or compliance services can be a significant source of revenue. Understanding the procurement process and building relationships with key government agencies can be advantageous. By evaluating these business models and determining which aligns best with your skills, resources, and market needs, you can create a solid foundation for your pipeline safety business. Each model has its unique advantages and challenges, so careful planning and market research are essential for success.

When considering the establishment of a pipeline safety business, it is crucial to understand the competitive landscape that shapes this industry. The pipeline safety sector is characterized by a mix of established companies, emerging startups, and various service providers, all vying for a share of the market. Key players in the industry include large corporations that often offer comprehensive services, including pipeline inspection, maintenance, and compliance solutions. These companies benefit from economies of scale, established relationships with major energy providers, and a wealth of experience in managing complex safety regulations. Their significant resources allow them to invest in advanced technologies and skilled personnel, making them formidable competitors. Emerging startups are also entering the market, often bringing innovative solutions that leverage new technologies such as drones, IoT sensors, and data analytics. These companies tend to focus on niche markets or specific geographic areas where they can differentiate themselves through specialized services or cost-effective solutions. Their agility and ability to adapt quickly to industry changes can pose a challenge to larger, more established firms. Additionally, the competitive landscape includes service providers that offer complementary services such as environmental consulting, risk assessment, and regulatory compliance support. These businesses can form strategic partnerships with pipeline safety companies, enhancing service offerings and expanding market reach. Another significant aspect of the competitive landscape is the regulatory environment. Compliance with federal and state regulations is a critical factor for success in the pipeline safety industry. Companies that can navigate these regulations effectively and offer compliance-related services may gain a competitive advantage. The market is also influenced by technological advancements and the increasing emphasis on sustainability and environmental protection. Companies that innovate and adopt eco-friendly practices may attract clients who prioritize corporate social responsibility. To succeed in this competitive landscape, aspiring pipeline safety businesses should conduct thorough market research, identify their unique value propositions, and leverage technology to enhance service delivery. Understanding the strengths and weaknesses of competitors, as well as the evolving needs of clients in the energy sector, will be essential in carving out a successful niche in the pipeline safety industry.

When starting a pipeline safety business, it is crucial to navigate the complex landscape of legal and regulatory requirements that govern the industry. Compliance with these regulations is essential not only for the successful operation of your business but also for ensuring the safety of pipeline operations and the protection of public health and the environment. Federal Regulations: In the United States, the Pipeline and Hazardous Materials Safety Administration (PHMSA) is the primary federal agency responsible for regulating pipeline safety. Businesses must adhere to the regulations outlined in Title 49 of the Code of Federal Regulations, particularly Parts 192 and 195, which cover the transportation of natural gas and hazardous liquids, respectively. These regulations include requirements for pipeline design, construction, operation, and maintenance, as well as emergency response and reporting standards. State Regulations: In addition to federal regulations, each state may have its own set of pipeline safety regulations that businesses must follow. These can vary significantly from one state to another, so it is important to familiarize yourself with local laws and regulations. Many states have their own pipeline safety programs that enforce stricter standards than those at the federal level. Engaging with state regulatory agencies and staying updated on changes in state legislation is vital. Licensing and Permits: Depending on the services your pipeline safety business offers, you may need specific licenses and permits. This could include certifications for hazardous materials handling, environmental assessments, or specialized training for personnel involved in pipeline inspections or maintenance. Ensure that all team members are properly trained and certified according to industry standards and regulatory requirements. Environmental Compliance: Pipeline safety businesses must also consider environmental regulations, especially those pertaining to land use, water quality, and air emissions. Compliance with the National Environmental Policy Act (NEPA) may be necessary when conducting assessments for new pipeline projects. Additionally, businesses must be aware of state and federal environmental protection laws, including the Clean Water Act and the Clean Air Act, which may impose further restrictions and requirements. Insurance and Liability: Obtaining the appropriate insurance coverage is another critical aspect of meeting legal requirements. Liability insurance is essential to protect your business against potential claims arising from accidents, spills, or other incidents related to pipeline operations. Additionally, consider investing in professional indemnity insurance if your business provides consulting or advisory services. Reporting and Record-Keeping: Regulatory bodies often require detailed record-keeping and regular reporting on pipeline safety operations. This includes maintaining records of inspections, maintenance activities, training, and any incidents that occur. Establishing a robust record-keeping system will help ensure compliance with regulatory requirements and enable your business to respond effectively to audits or investigations. Industry Standards: In addition to legal requirements, adhering to industry standards set by organizations such as the American Society of Mechanical Engineers (ASME) and the American National Standards Institute (ANSI) is also advisable. These standards can provide guidance on best practices for pipeline safety and help your business maintain a high level of professionalism and credibility in the industry. By understanding and adhering to the various legal and regulatory requirements, you can establish a pipeline safety business that not only meets compliance standards but also plays a vital role in enhancing the safety and reliability of pipeline operations.

When embarking on the journey to establish a pipeline safety business, securing adequate financing is crucial for overcoming initial operational hurdles and achieving long-term sustainability. Here are several financing options to consider:
1. Personal Savings: Utilizing personal savings is often the first step for many entrepreneurs. This approach allows you to maintain full control over your business without incurring debt or giving away equity. However, it’s important to assess your financial situation carefully to ensure that you can afford to invest your savings without jeopardizing your personal finances.
2. Friends and Family: Borrowing from friends and family can be a viable option. This method can provide a more flexible repayment structure compared to traditional loans. However, it’s vital to approach these arrangements with transparency and professionalism to avoid straining personal relationships.
3. Bank Loans: Traditional bank loans are a common financing route for small businesses. To qualify, you’ll typically need a solid business plan, good credit history, and collateral. Bank loans can provide the necessary capital, but they often come with strict repayment terms and interest rates.
4. Small Business Administration (SBA) Loans: The SBA offers various loan programs designed to assist small businesses. These loans generally have lower interest rates and longer repayment terms than conventional bank loans. They require a comprehensive application process but can be a great resource for those who qualify.
5. Grants and Competitions: Research available grants specifically targeting safety, environmental initiatives, or small businesses in the energy sector. Additionally, entering business competitions can yield financial rewards or grants, along with invaluable exposure and networking opportunities.
6. Angel Investors: Angel investors are individuals who provide capital to startups in exchange for equity or convertible debt. They can bring not only funding but also mentorship and industry connections. It's crucial to prepare a compelling pitch and business plan to attract their interest.
7. Venture Capital: If your pipeline safety business has high growth potential, seeking venture capital funding might be appropriate. VC firms invest in exchange for equity and typically look for businesses with the potential for significant returns. This route often involves giving up some control of your company.
8. Crowdfunding: Platforms like Kickstarter or Indiegogo allow you to raise small amounts of money from a large number of people. This method also serves as a marketing tool, helping you gauge public interest in your services. Successful crowdfunding campaigns require a well-thought-out strategy and a compelling value proposition.
9. Equipment Financing: For businesses that require specialized equipment for pipeline safety inspections and maintenance, equipment financing can be a practical solution. This type of loan allows you to purchase equipment while using it as collateral, thereby reducing upfront costs.
10. Partnerships: Forming strategic partnerships with established companies in the oil and gas sector can also provide financial backing. These partnerships can lead to shared resources, reduced costs, and access to a broader client base. In conclusion, evaluating these financing options will help you determine the best approach for your pipeline safety business. Each option has its pros and cons, and often a combination of different sources may provide the best outcome. A well-crafted business plan and a clear understanding of your financial needs will be essential in securing the necessary funding.

When launching a pipeline safety business, effective marketing and sales strategies are crucial for establishing a presence in the industry and attracting clients. Here are several approaches to consider:
1. Identify Your Target Market: Begin by defining your ideal customers. This could include pipeline operators, energy companies, government agencies, and industrial manufacturers. Understanding the specific needs and pain points of these clients will help tailor your marketing efforts.
2. Develop a Strong Value Proposition: Clearly articulate what sets your pipeline safety services apart from competitors. Whether it’s advanced technology, specialized expertise, or comprehensive training programs, your value proposition should resonate with potential clients and highlight the benefits of choosing your business.
3. Leverage Digital Marketing: In today’s digital age, having a robust online presence is essential. Create a professional website that showcases your services, expertise, and case studies. Utilize search engine optimization (SEO) techniques to improve visibility in search engine results. Additionally, consider content marketing strategies such as blogs, whitepapers, and webinars that address pipeline safety issues, establishing your business as an authority in the field.
4. Utilize Social Media: Platforms like LinkedIn, Twitter, and industry-specific forums can be effective for networking and sharing valuable content. Regularly post updates, industry news, and insights related to pipeline safety to engage followers and attract potential clients.
5. Attend Industry Events: Participate in trade shows, conferences, and workshops related to pipeline safety and energy sectors. These events provide opportunities to network with industry professionals, showcase your services, and learn about the latest trends and technologies.
6. Build Strategic Partnerships: Collaborate with complementary businesses, such as engineering firms or environmental consultants. These partnerships can lead to referrals and joint ventures that expand your reach and credibility in the market.
7. Invest in Direct Sales: Develop a direct sales strategy that includes outreach to potential clients through cold calling, email campaigns, and personalized presentations. Building relationships with key decision-makers is vital, so consider focusing on a consultative sales approach that emphasizes understanding client needs.
8. Offer Free Assessments or Trials: To attract new clients, consider offering free safety assessments or trial services. This allows potential customers to experience the value of your offerings firsthand, making them more likely to commit to a full service contract.
9. Gather and Showcase Testimonials: Positive client feedback can dramatically enhance your credibility. Collect testimonials and case studies from satisfied customers to showcase the effectiveness of your services. Display these prominently on your website and marketing materials.
10. Stay Abreast of Regulatory Changes: The pipeline safety sector is heavily regulated. Keep informed about relevant regulations and industry standards, and communicate how your services ensure compliance. This not only positions you as knowledgeable but also demonstrates your commitment to safety and industry best practices. Implementing these strategies effectively can help establish your pipeline safety business in a competitive market, attract a loyal client base, and drive sustainable growth.

When starting a pipeline safety business, understanding the operations and logistics involved is crucial for ensuring efficiency, compliance, and profitability. This section outlines the key components necessary to establish and manage the operational framework of such a business.
1. Regulatory Compliance and Safety Standards Before initiating operations, familiarize yourself with the regulatory landscape governing pipeline safety. This includes federal, state, and local regulations, such as those set by the Pipeline and Hazardous Materials Safety Administration (PHMSA) in the United States. Compliance with these regulations is not only a legal requirement but also essential for building credibility and trust with clients. Establish protocols to ensure ongoing adherence to safety standards, including regular audits and training programs for employees.
2. Workforce Management A skilled workforce is fundamental to the success of a pipeline safety business. This involves hiring qualified personnel with expertise in pipeline operations, safety inspections, and emergency response. Develop a comprehensive training program that includes both theoretical knowledge and practical skills. Certifications, such as those from the National Association of Regulatory Utility Commissioners (NARUC) or other relevant bodies, can enhance your team’s qualifications and improve the company’s reputation.
3. Equipment and Technology Investing in the right tools and technology is vital for effective operations. This can include specialized inspection equipment (e.g., drones, leak detection systems, and data analysis software) to monitor pipeline integrity and safety. Establish relationships with equipment suppliers and service providers to ensure access to the latest technology and maintenance services. Additionally, consider implementing a robust information management system to track inspections, incidents, and compliance documentation.
4. Logistics and Supply Chain Management Efficient logistics are essential for managing the physical aspects of your pipeline safety operations. This involves coordinating the transportation of equipment and personnel to various job sites, maintaining an inventory of necessary supplies, and managing relationships with subcontractors and suppliers. Develop a logistics plan that outlines the processes for mobilizing resources, scheduling jobs, and managing costs. Utilizing software tools for project management and scheduling can enhance efficiency and reduce delays.
5. Client Relationship Management Building and maintaining strong relationships with clients is critical for long-term success. Implement a customer relationship management (CRM) system to track interactions, manage proposals, and follow up on leads. Regular communication with clients about their pipeline safety needs and concerns will help you tailor your services to meet their expectations. Additionally, seek feedback to continuously improve service delivery and address any issues promptly.
6. Financial Management Establishing sound financial practices is essential for sustainability. Create a detailed business plan that outlines your operational costs, pricing strategies, and revenue projections. Consider the costs associated with hiring skilled personnel, purchasing equipment, and maintaining compliance with safety regulations. Setting up accounting and financial tracking systems can help you monitor expenses and profitability. Additionally, explore funding options, such as loans or grants, to support initial investments.
7. Emergency Response Planning In the pipeline safety industry, preparedness for emergencies is paramount. Develop comprehensive emergency response plans that outline procedures for various scenarios, including leaks, spills, or accidents. Conduct regular drills and training sessions to ensure that all employees are familiar with emergency protocols. Collaborating with local emergency management agencies can enhance your response capabilities and strengthen community ties. By focusing on these operational and logistical aspects, you can lay a solid foundation for your pipeline safety business, ensuring that it operates smoothly, meets regulatory requirements, and delivers high-quality services to clients.

Establishing a successful pipeline safety business requires a solid foundation in human resources and management practices. The personnel you bring on board will be critical to your operation, as they will be responsible for ensuring compliance with safety regulations, conducting inspections, and implementing safety protocols. Here are key considerations in this area: Staffing and Recruitment The first step is to identify the roles necessary for your business. Common positions in pipeline safety include safety inspectors, compliance officers, training coordinators, and administrative staff. When recruiting, look for candidates with relevant experience in pipeline operations and safety regulations, as well as certifications from recognized organizations. Additionally, consider the importance of hiring individuals who possess strong communication and problem-solving skills, as they will often need to work collaboratively with clients and regulatory bodies. Training and Development Given the complexity of pipeline safety regulations and technology, ongoing training is essential. Develop a comprehensive training program that covers not only regulatory compliance but also emergency response procedures, environmental awareness, and the use of safety equipment. Regular workshops and certifications can help keep your team up-to-date with the latest industry standards and foster a culture of continuous improvement. Employee Engagement and Retention Creating a positive work environment is crucial for retaining skilled employees. Implementing strategies such as recognizing achievements, providing competitive compensation, and offering opportunities for professional development can enhance job satisfaction. Consider establishing a feedback system where employees can express their concerns and suggestions, fostering a culture of open communication. Safety Culture As a pipeline safety business, promoting a strong safety culture within your organization is paramount. This should be reflected in your management practices and the behaviors you encourage among your employees. Lead by example; management should prioritize safety in every aspect of operations, reinforcing the message that safety is everyone's responsibility. Performance Management Establish clear performance metrics and regular review processes for your employees. This will help ensure accountability and allow for the identification of areas needing improvement. Use these reviews to set personal and professional goals with your staff, aligning their objectives with the overall mission of the business. Regulatory Compliance Your human resources strategy must also align with regulatory requirements. Ensure that all employees are well-versed in the legal obligations surrounding pipeline safety, including local, state, and federal regulations. Staying compliant not only protects your business but also builds trust with clients and stakeholders. By focusing on these areas, you can build a capable and committed team that drives the success of your pipeline safety business. Strong human resource management will not only enhance operational efficiency but also contribute significantly to the safety and reliability of pipeline operations, ultimately leading to greater client satisfaction and business growth.

In conclusion, embarking on a pipeline safety business presents a unique and impactful opportunity to contribute to the safety and efficiency of vital infrastructure. By understanding the regulatory landscape, identifying your niche, and developing a comprehensive business plan, you can position yourself for success in this critical field. Building relationships with industry stakeholders, investing in the right technology, and prioritizing ongoing training and certification will enhance your credibility and effectiveness. As awareness of safety issues continues to grow, your business can play a pivotal role in ensuring the integrity and reliability of pipeline operations. With careful planning and dedication, you can make a significant difference while also establishing a profitable venture in a sector that is essential to our economy and environment.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect pipeline safety business plan, fill out the form below and download our pipeline safety business plan template. The template is a word document that can be edited to include information about your pipeline safety business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.