Global Slowdown Perfect for Super SMEs
Is the Global Slowdown the Perfect Storm for the rise of Super SMEs?
As the slowdown slips inexorably into recession a landmark study explores the vital ingredients of small businesses bucking the trend and thriving through the crisis.
In an impassioned cry for support from the engine room of British business, three out of ten SMEs fear they will not be here in 12 months time. Yet the same study of more than 1,000 businesses across the UK reveals a new tribe of Super SMEs who are booming through increasingly tough market conditions.
Crucially, the report investigates what Super SMEs and struggling businesses did differently as the slowdown first loomed on the horizon. In doing so the report delivers an action plan for business survival. The plan is comprised of a ten-point checklist for anyone running their own business and includes tips on where to concentrate investment and what to prioritise when the chips are down, using the Super SMEs as the template for success.
David Molian of Cranfield School of Management and leading business luminaries contribute to the report commissioned by workplace telecoms specialist Plantronics, alongside Super SME case studies revealing their own strategies for success in a downturn.
“The overall picture from the study is even more serious than I would have predicted”, Molian comments, adding that “the small number of super-performers will be the engine of growth for our economy and they share a common management philosophy: they invest in their staff”.
While six out of ten SMEs brace themselves for negative growth in the next year, attitudes towards business critical issues such as diversification, flexible working, IT infrastructure and marketing cannot be ignored. Indeed, 62% of all SMEs have never had to face a slowdown before and are looking with increasing urgency for actionable advice and insight on challenging business decisions.
The study has been translated into a compelling blueprint for survival The Rise of The Super SME : A Guide to Plain Sailing through the Recession which is available for download alongside a video featuring David Molian helping to navigate your way through the key outcomes and tips for business success.
So, what does it take to become a super SME? As well as hearing from leading experts we go behind the scenes at one to reveal some canny tips for survival.
Click here to watch the video of The Rise of the Super SME.
For further information visit Be a Super SME