Super SMEs invest way through recession
Research from communications firm Plantronics found that 21% of small and medium–sized enterprises (SMEs) have either been unaffected by the economic slowdown or their business was booming.
Of these so–called “Super SMEs”, all had increased or maintained their levels of investment in IT infrastructure, staff training or marketing. Super SMEs were also three times more likely to have a disaster plan in place, should the economic climate deteriorate further. Plantronics general manager Paul Clark said:
“During times of economic uncertainty, SMEs tend to view investment in IT, staff training and marketing as luxuries instead of necessities. Super SMEs are bucking convention and investing wisely in some or all of these areas.”
“Being a Super SME is within the grasp of most businesses, it’s never too late. With the right approach to forward planning, investment in the right technology, staff training and marketing, it is possible to survive tough times.” he added
The Federation of Small Businesses said that maintaining visibility during a downturn was essential, to avoid losing customers. An FSB spokesman said.
“The best way to weather the slump is to keep your head up and keep consumers aware of your business,”
“Seek cost–effective methods of advertising such as around the local area or online. Flexibility is another key asset for small businesses looking to get through the credit crisis. Whether it is to diversify and explore other markets or simply look for new sources of finance, smaller firms with less rigid practices are generally well placed to adapt to a difficult economic climate.” he added