SME Business News

A recent survey on the UK Business Forum asked the question, “Has The Slowdown Affected Your Turnover’”

Results from the poll showed that 40% of small business owners report that turnover has actually increased during the first part of this year.

However. of those that are seeing a growth in business the majority admit to being more proactive than in previous years, targeting areas of their market where they are confident of growing business.

25% of respondents reported that business was down slightly with 20% admitting to a significant drop in turnover. The balance of 15%have not seen any change in the turnover of their business.

All business owners are facing a tough time, with general reports of customers constantly looking for a bargain, extra discount or haggling over prices and free inclusions.

There appears to be more competition for business from larger companies who are often better placed to offer customers better prices and as always in recession will take business at any cost. But there is also a general feeling that customers prefer to deal with smaller businesses where they invariably get a better service and personal attention.

So the message to SMEs is don’t just lie there and accept it, be proactive and seek out areas of business where you can offer a niche or unique service if possible. But the main thing is to keep in constant touch with current and possible new clients, talk to them and reassure them that you will be there when they need you.