Half of UK SMEs to grab opportunities not fulfilled by large firms
A study conducted by Research In Motion (RIM) has thrown up some interesting findings – 45% of SMEs claim to be focusing on their business’ expansion, with a further 21% changing their business strategy to compete with larger firms. It’s great to see that competition is on the increase for the Big Boys, especially in the light of more than half of SMEs in the UK seeing an opportunity to grow their business by picking up opportunities that larger organisations and the public sector can no longer fulfill. But what about the other 50% – are they sitting dormant?
Surely, with some effective business planning, most if not all SMEs should be able to spot opportunities that can fuel their differentiation over the months and years to follow. The key to success is preparation and anticipation to enable small businesses to gear up with the right infrastructure to take advantage of the opportunities available.
With 65% of the study respondents acknowledging that technology will play a key role in achieving any growth and their ability to communicate with customers, share information and answer questions, our online Business Plan Factory toolkit and unique support service seems to be just what the SME market needs to make sure that none of them have an excuse for not planning their survival let alone growth.